The year is mostly through. Structural observations:
Worms continue at high tempo. MyDoom, Witty, Sasser all major. Cabir opens a new category.
Mass-mailing continues to dominate by volume. The MyDoom/Bagle/Netsky war is producing background mail volume far above 2002 levels.
Microsoft Trustworthy Computing continues to deliver. Windows XP SP2 (in development) will reportedly have substantial security improvements.
Mobile devices opening as a category. Cabir is the start.
Spam and phishing continue to grow. No structural improvement visible.
More as the year wraps up.