Today’s ‘Back to the Mac’ special event hosted by Apple in Cupertino is now available to stream and download.

The special event which lasted 1 hour 30 minutes saw the first preview of Mac OS X 10.7 Lion which marks the eight major iteration of Mac OS X. Shipping in Summer 2011 the short look at Lion demoed some of the major features coming to the OS.

Apple also took the opportunity to release a brand new redesigned MacBook Air as well as a 11.6-inch sibling, both are ultra light and thin taking design cues from the iPad.

Finally Apple has updated iPhoto, iMovie and Garageband and are now part of iLife ’11 which is available today.

The event can be streamed via Apple’s website or downloaded via the “Apple Keynotes” podcast [iTS] on the iTunes Store.