There are so many things that we could do better if only computers were another million times faster.
Actually, Im not so sure. For the past decade I have been waiting for that "killer app" to make use of our computing resources, but it isnt happening. 10 years ago we heard all those promises of voice recognition, AI and what not. Ill see if I can find a funny slide I saw from intel making 10 year predictions, I found it laughable at the time, I think its hilarious now. In reality those problems have proven to be software, not hardware problems, and we havent progressed much since 2000. Basically our PCs are still doing the exact same things they were doing 10 years ago, and a need for faster processing for the most part just isnt there. For the bulk of daily tasks, our current hardware, or even old hardware, is more than fast enough, given efficient software.
Its therefore no surprise to see the current trends are away from highend PCs, towards slower but more mobile, more easy to use and usually, more affordable devices. First the netbook rage, now smartphones, tablets, and upcoming smartbooks. For those tasks these machines are too slow to handle, there is always the cloud. Even gaming is moving to the cloud, look up OnLive or Otoy.
Im willing to bet in 10 years, the majority of us will use computing devices that are barely faster than our current desktops. They might even be slower. They will no doubt be more useful, have better software and connectivity, they will be more portable and tap in to performance remotely when needed. But significantly better raw performance? I doubt it.
Anyway, thats not to say I declare Moore's Law dead yet. It will be used however primarily to obtain better energy efficiency. The same chips that power your iphone or android phone will end up in huge numbers in datacenters, and those datacenters will do ever more of our number crunching. PCs will become like Unix workstations: rare (and expensive) dinosaurs.