What kiba said. And don't underestimate the power of face-to-face meeting to build a sense of shared community.
Agreed with SunAvatar and kiba. But I prefer smaller meetings then a bit conference. Small meetups are always good -- better then one big, expensive, complex and centralized conference.
I agree. Bitcoin is a distributed peer-to-peer currency. It should be spread that way. Meetups should be held that way too. Also having a big centralized conference would attract all sorts of negative attention from the authorities, since it would have "giant money laundering operation" written all over it (as far as the state is concerned).
Anyway, at this point it is better to share bitcoin with other groups that have goals that may be advanced with bitcoin. For example, your local libertarian meetup or local trade network for whatever it is you do.
But it would be cool if PorcFest 2011 has some talk on bitcoin...