It looks like Apple pulled all the compilers and supporting apps into the app bundle itself, it no longer needs a /Developer folder on your machine. I believe this will make things a lot easier for those of us who develop web applications with things like ruby, python or help with compiling/installing open source apps using tools like homebrew. We should now be able to install our own GCC and Xcode on the same machine without having to deal with conflicting environments and defaults.
The initial trouble is going to be installing a normal gcc on your machine, a normal user can't compile a compiler without a compiler. I expect a nice installable binary package that is intended to be used with rvm, ruby and homebrew before too long...