Look at the road during the content aware demo when he's talking about the line on the left. It's good, but far from perfect. Kind of reassuring that it can't insta-fake as much as they want you to think it can.
CS5 Web Premium Feature Tour - Terry White?s Top 5 Photoshop CS5 Features | Adobe TV
Also, look forward to people flooding the Internet with millions of puketastic HDR photos (is there any other kind of HDR?) with his last favorite feature.