I just got back from the Rational Software Conference in Orlando. I don't think I can say enough good things about this conference. I was at this conference a few years ago (2005) and I was not as impressed, but my how Rational has grown.
Even if you do not use Rational products, everyone in IT could derive some benefit from this event. Many of the presentations are focused on solving fundamental IT problems and issues. I personally saw many presentations on program and project management, enterprise architectures, agile development, and even testing and metrics that didn't even mention Rational products.
Additionally there were great presentations from industry experts such as Scott Ambler, Erich Gamma, and Ivar Jacobson, and of course Grady Booch as a keynote speaker.
If you are a Rational fan then it gets even better. The product suite has expanded and integrates much better with WebSphere and Java development then ever before. Rational seems committed to helping solve fundamental problems that traditionally have been very hard to do. The integration with Telelogic seems to sweeten the overall portfolio.
Anyway, you should put this on your calendar for next year. I'm not sure this is something that I need to attend every year unless you are a large rational users, but every couple of years for anyone, this is a very good thing.