I just switched to mac too.
(man what a great decision!).
I haven't found iphoto to be that great, but I think its a great program to view my favorites.
Once I get my pictures (amongst a million other things) organized, esp with my external hd's and such, i plan to keep my processed raw files on my external, and keep screen size jpegs of my favorites on my MBP hard drive. I also kept (and plan to continue to) keep full size jpegs alongside my nef files on my externals as well.
I'll use Iphoto to manage the "favorites".
We don't have to get into semantics...but it has both the words "enter" AND "return" on the key I believe
haha that's what mine says too!