C|Net News sums up the deal as:

A significant development for both companies and for the computing industry.

But:

[T]here's a big difference in scope between the grand "multiyear, strategic agreement" the companies heralded at a press conference Tuesday and the much narrower particulars they actually announced. To make matters more confusing, some of the technology involved is complex, and executives hinted at other elements of cooperation beyond what was in the press release.

C|Net News also runs a round-up of blogger comment, an interesting reversal of the usual, wherein the bloggers comment on the MSM (Mainstream Media). My, my, what will be next? The WaPo thoughtfully reprinting Instapundit and Powerline? Mailmen biting dogs? There are also amusing possibilities for infinite loops.