question about annotations

During the discussion yesterday I got a bit confused about say the 
following set of triples in OWL 1.1


eg:c rdf:type owl:Class .
eg:c eg:dp "A string" .



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If I put these two triples through an OWL 1.0 'make it DL patch-up' 
program, I would get

eg:dp rdf:type owl:AnnotationProperty .

If I put these through an OWL 1.1 (with punning) 'make it DL patch-up' 
maybe I should get

eg:dp owl:DataProperty .


with eg:c being punned as a class and an individual.

This would suggest that no annotations are needed at all in OWL 1.1 - 
and then I get confused because we have discussions about annotations.

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Please clarify, are there annotations on entities in OWL 1.1, and if so, 
why?

Jeremy