I came across this post written by Kevin Barnes on Agile Processes. A slightly old post and I am not sure what exactly Kevin was trying to convey in this post. However, there was one picture on the same post which caught my eyes and to which I could relate completely.
(src = http://www.codecraft.info/images/processSeesaw.jpg)
The picture nicely describes how the two processes are loaded with respect to the Product Design and actual Product Development. Whether it is intended or not, there is typically a lot of upfront design effort in Waterfall. Whereas the Design process is more emergent in Agile. As they say, more important in Agile is the working code.
