This is the Information Card Foundation website. Charles Andres the ED of the foundation has been working hard getting it ready.

This announcement is really big news on several levels.
There are major internet players on board committed to cooperating together on this technology - as the founding corporate board members Novell, Oracle, Microsoft, Google, PayPal, Equifax. There are quite a few companies that are also launch members:

Arcot Systems,
Aristotle,
A.T.E. Software,
BackgroundChecks.com,
CORISECIO,
FuGen Solutions,
Fun Communications,
Gemalto,
IDology,
IPcommerce,
ooTao,
Parity Communications,
Ping Identity,
Privo,
Wave Systems,
WSO2;

associate members
Fraunhofer Institute
Liberty Alliance;

The people in this community on the board are also really great and have met an talked with most of them myself.
Paul Trevithick,
Kim Cameron, (as a community member not MSFT's rep)
Mary Ruddy,
Ben Laurie
Pamela Dingle
Patrick Harding
Drummond Reed
Andrew Hodgkinson (I haven't met)
Axel Nenker (I haven't met)
Mike Jones (as the MSFT board member)

This includes PayPal and Equifax who have been publicly involved with the user-centric identity efforts until now.

One of the issues with information cards will end-users actually adopt the client side code they need to make this work? And who will issue managed information cards.

PayPal has the ability to really drive client side adoption of card selectors and to be a managed card issuer.

It got coverage in the NYTimes. (Yhey spell Bob Blakley's name wrong in it)

I found it frustrating they said these technologies were "like a drivers license"

The community has worked so hard on the Laws of Identity and the OECD paper with the Principles of Identity. Drivers Licenses seem like the wrong analogy to explain the technology and make people safe or excited about it. I don't like being asked for my drivers license everywhere - it often gives away to much information. Oh well. I guess there is more explaining to do about how these systems can and should work to improve on how we do identity in the real world with drivers licenses.