This was I believe inevitable due to the long term health issues that he has.
I will be interesting to see the effect on the company as the last time his input was removed from Apple the company only just survived. The people who will now be in charge are I'm sure capable administrators, but whether they have the innovative qualities of Jobs is the big question.
Undoubtedly there will be the next few iPhones and iPads but do they have the people to make the next technological leap?
The inevitable comparisons with Bill Gates is not really relevant, due to the nature of the two businesses, Microsoft has for a long time been a more evolutionary company, due to it's customer base being so tied into the corporate world, where as Apple sell Innovation and gadgets.
I wish Steve Jobs all the best in his personal health battles but I feel that the future for apple could well be rather turbulent, only time will tell