Most of the media focus is on the iPad and iPhone these days, but you shouldn't underestimate the importance of the Mac in Apple's growth picture.

According to a recent Piper Jaffray report, analyst Gene Munster says Mac sales grew 39% during the months of January and February 2010 when measured year over year.  Munster says that NPD retail data points to sales of 2.8 to 2.9 million Mac units sold for the March quarter.

The Street estimate is 2.7. Munster is forecasting Mac unit growth of 26 to 31% year-over-year. If this growth rate were sustained throughout the year, it could translate to a 3% (US$7) upside to the $267 Trefis price estimate for Apple’s stock.

The big excitement right now -- and understandably so -- is on the iPad. But once that initial rush is over, we still have plenty to look forward to on the Mac front this year. Hardware upgrades all around, of course. iLife 2010? iWork 2010? New displays to go with Mac Pros? USB 3.0? Blu-ray support?

The Mac remains the core of the digital hub lifestyle that Apple promotes. And that's not going to change soon, even if the new kid on the block is getting all the attention for now.