It rocks. Literally.

Google's Matt Cutt's thoughts on Instant are here:
http://www.mattcutts.com/blog/thoughts-on-google-instant/

The official blog post is here:
http://googleblog.blogspot.com/2010/09/search-now-faster-than-speed-of-type.html

Here's a fun and incredibly geeky video from Product Manager Jonathan Effrat and other Google team members:

That's kinda like an Apple product video, right? Smart people. Clever products. Lofty adjectives. ... Only it isn't. It's hilarious! I think The Onion should do a parody of it immediately. But don't get me wrong, it is a huge step forward and a fantastic innovation.

Search just got better. Thank you Google.