The new API is focused around pushing out data to desktop applications in real time. There will no longer be rate-limits for data on desktops — tweets, retweets and all other updates will be streamed directly to the desktop.
In a demo on stage, Sarver pinged content from Twitter.com onto TweetDeck in real time. The API will be available for developers to test out in the next two days, although it will not be launching until later in the year.
We’ll get more information as soon as it becomes available.