Cassini was only just barely captured with this flyby - the bulk of the pictures will come once it gets a much closer orbit, which won't be happening for a few more months.

I'm not sure what you're driving at. It's true "the bulk of the pictures" comes later, but that doesn't have anything to do with Cassini being in "a much closer orbit." In fact, Cassini's orbital period varies throughout the tour.

At any rate, lots of science observations are possible in this first rev. In fact, there are plenty of observations scheduled for the interval between T0 (July 2, 2004) and Ta (October 26, 2004), the latter being the first targeted Titan flyby. The two sequences that will be operational onboard during this time, S03 and S04, are already built and have been uploaded. In fact, during S04, which goes active on September 12, 2004, the Saturn Target Working Team (TWT) plans to conduct the longest continuous near-global Saturn atmospheric campaign of the entire tour. S04 will also include ring observations and observations of 8 major satellites, as well as some low resolution imagery of Phoebe. Fields and particles and waves data will also be collected in near-continuous mode, except when the magnetometer is "muted" during Huygens Probe checkout.

From an engineering standpoint, the big event is the Periapsis Raise Maneuver (PRM) currently scheduled for August 23, 2004, which is both preceded and followed by cleanup and trim maneuvers.