Yesterday Apple's Hot News feed showed that Aperture 1.1 is due for release on April 13. It appears the news appearance was a mistake and has now been removed, the Hot News section of the website described Aperture 1.1 as the following;
Aperture 1.1, a significant update to the revolutionary all-in-one post production tool for photographers, runs natively on both Intel- and PowerPC-based Macs. The update features dramatically improved RAW image rendering and a new set of advanced RAW adjustment controls. Likewise, it delivers impressive speed gains on any Mac. At a new lower price of $299, Aperture is within reach of anyone shooting with a digital SLR camera. [Apr 13, 2006]
According to that description from Apple the price of Aperture has dropped $200 from $499 to $299.
All references to the news story have been removed from Apples site, but it is likely that we will see Aperture 1.1 today.
[Update] Apple has now officially released Aperture 1.1.