Hence, they decided to rewrite the application from scratch, to be called Quicken Essentials. At the time, they already knew that Carbon was being replaced by Cocoa and that the transition from PPC to Intel architecture would mean the PPC support would eventually end. It's not like Intuit forgot about this product, they deliberately end of lifed it. Oh, and by the way, the code for Quicken 2007 is actually five years old, not four. The work that Intuit is doing is to incorporate the Rosetta technology to get this old Carbon PPC code to run on Lion, something that Apple had deprecated.
They can't really call it Quicken 2012 if it has zero new features. Those programmers are working on other things (Quicken Essentials, QuickBooks, TurboTax,, whatever). Because Intuit discontinued development of Quicken for Mac.
