Do you have 10.4? I don't think 10.3 supports D50 NEFs, or the DNGs created from them. (I convert all my NEFs to DNGs, as Photoshop CS's ACR can't open D50 NEFs, but it can open D50 DNGs).
As for my process, it's similar to the one posted for Aperture, just with iPhoto. I wrote an Automator work flow that sucks the pictures off of the card (I have a card reader in my Dell monitor), ejects the card, converts the NEFs into DNGs in a seperate folder, which I then drop into iPhoto (iPhoto Automater cacks on RAW files).
I then go through deleting bad images and then adjusting the exposure/sharpness/colour balance in iPhoto's fullscreen edit mode. I only do this once, as after the first save, iPhoto creates a JPEG image (the RAW is still there if you revert it). I then grab the images I want to upload to my website, and do an export, to a folder I have on my desktop, which I then upload.
Aperture 1.1 was announced at PMA 2006 (Photo Marketing Association), a professional photo expo, but Photokina is as much consumer-oriented as it is professional-oriented. So it's possible that in addition to Aperture 1.2 other new products or revisions to existing products will be announced. But it's also possible that Apple simply wants to take advantage of the opportunity to showcase its Intel-based systems to the 160,000 people who are expected to attend.