Barack Obama will be the next President of the United States.
Most news networks have called enough states to give Obama either 199 or 200 electoral votes. Combine those with the mortal locks from Iowa (7), California (55), Oregon (7), and Washington (11) you get either 279 or 280 (270 needed).
I was off on a network calling it 9:30, Virginia and Florida are being persnickety.
update: dagnabbit - fivethirtyeight.com beat me to the punch by 8 minutes.
second update: for my good friend Steve. Please write from up north.