How was it done, and how much $$$ to produce?
 

What tools/expertise would be required to produce something like this presentation and how much would you expect it would cost to produce if someone had it storyboarded out?

YouTube - 2008 Latest Edition - Did You Know 3.0 - From Meeting in Rome this Year

I'm guessing its AfterEffects, Photoshop, and perhaps Illustrator. but I'm not sure.

Looks like you hit it right on the head. Photoshop, After Effects and Illustrator. But I would guess that they used Motion.

Not familiar with "Motion". Is that a program or an effect?

Based on my knowledge, this *can* be created entirely using software like Adobe Flash
animation software, multimedia software | Adobe Flash CS4 Professional

OR

Illustrator/Xara Xtreme for the graphics (vector) + Vegas/Premiere etc for the animation part.

Budget wise, low $x,xxx should cover, done by a pro.