Wow, this has got to be some of the nerdiest and most exciting news I have heard of in a long-time. Unfortunately (and possibly fortunately) most people shouldn't ever notice any of this, but we coders have beat our head against the walls so many times because of this, that news like this can nearly make us giddy with excitement.
Drum Roll Please....
Internet Explorer will be set to standards compliance mode by DEFAULT! ARS Technica posted an article earlier today about this, which is quite an interesting read, and provides much more of an in-detail look than I will be providing here. But in a nut-shell, what I am hoping that we will see with such a change from Microsoft, is a greater accountability to the industry as a whole to be compliant to standards, and easier to work with. For anyone who has developed anything for the Internet before, they have dealt with the nightmare that is balancing a page between FireFox and Internet Explorer. FireFox often leans toward the standards side (ish) and Internet Explorer tends to... well... they just like doing their own thing. Now don't get me wrong, I'm not one of those "Microsoft is Evil" kind of guys. In fact I congratulate them on their success, and am trying to find a way that I can emulate such wide-spread success within my own life. But that is a whole separate topic.
The thing that I am most eager to follow, and see the outcome from, is how this effects developing a consistent user experience across the main two browsers. One interesting curve that we could see also come into play, is the currently-in-beta FireFox 3. I personally have not tried it yet but I have read some promising reviews.