http://conf.reactjs.com/
Yes, with React Native you'll be able to write native mobile apps completely in JavaScript.
but for iOS I need to develop it on an Apple machine correct?
Yes, you need a Mac in order to run the simulator or build to a device.
You say this is not DOM or some hybrid solution?
Either this is too good to be true or ground breaking stuff.
Do you mean that react could completely get rid of having to write stuff in Java or Objective-C?