What is Moore's Law, really?

Of course Wikipedia has an entertaining discussion about the topic, and it tells us that Moore himself was only observing/predicting that the growth in the number of transistors on a chip at the lowest price point would be exponential. It's used by many as an indicator of the increase in computing power in general... and the longest theoritical limit on Moore's law in this sense is about 600 years, at which time Moore's law would require more information processing power than can be encoded in the universe. My favourite related law is from Wirth,

"Software gets slower faster than hardware gets faster"

This page has pithy summaries of observations (as opposed to real laws) named after people.