Looking at CNN right now: black smoke is pouring out of the chimney of the Sistine Chapel... and how! There's not gonna be any confusion this time around.
So we know that the cardinals within have had their first ballot and no one has been elected pope. Which was what most people were expecting anyway.
Two more votes tomorrow.
UPDATE 2:59 p.m. EST: Scott Bradford notes that there will be four ballots tomorrow - 2 each in the morning and afternoon - and not two as previously reported.
As an aside, I'm seeing some good-humored jesting about this. One friend said that based on the black smoke "Willie Nelson has just been elected pope", while someone on Twitter is reporting that the Black Smoke Monster (from Lost) is the new pope.
Come to think of it, that's the blackest black smoke I've ever seen. We need John Locke on the scene, STAT! :-)
UPDATE 3:41 p.m. EST: Here's a photo of the black smoke that poured out of the Sistine Chapel chimney a short while ago...