It's not too often that opening your email becomes a transformational moment, a "Wow" moment. Well, that was yesterday for me when the announcement came down from LC: Transforming our Bibliographic Framework: A Statement from the Libraray of Congress. I sort of though a movement away from MARC was never going to happen (at least not in my work-lifetime). This statement is the direction a lot of us have been waiting for.
As the REM song goes, this really could be "the end of the world as we know it."
A website has been set up for all the activity surrounding this initiative: Bibliographic Framework Transition Initiative. I will keep an eye on it with cataloger-like, detail-oriented intensity. So, we'll see what this brings, but it sure does seem like a postive step forward.
Update: See also John Mark Ockerbloom's interesting take from an open data perspective.