The smoke is staying white. If I remember correctly, his name will be announced in about ten minutes and then in about a half hour, the new Pope will appear after he gets dressed.

Update: the bell at the Vatican is moving now. It will ring now. So cool.

Update II: I might as well, put it up now. I am betting it's Cardinal Arinze, but what do I know (12:06PM ET)

Update III: I was right ... I dont' know anything! Pope Benedict XVI it is, and in the form of Cardinal Ratzinger. Really cool. I can do some dancing as my ancestry is half German, but I'll do an Irish jig for my mother's sake.