Yes, there will be a JavaOne Conference in 2010. JavaOne will be co-located with Oracle Develop during Oracle OpenWorld in San Francisco from September 19-23, 2010. You may experience and register for JavaOne as a standalone conference just as before, or you can attend Oracle Develop 2010 and/or Oracle OpenWorld as well; it's your choice. Furthermore, unlike in recent years, JavaOne will focus solely on Java Technology and its associated ecosystem. You're welcome to attend Oracle Develop and Oracle OpenWorld to gain insight into specific products. As usual, all Java users and partners are invited to submit papers and to attend JavaOne.
Project Kenai, however, will be discontinued for public use.