UPDATE: Mubarak Not Actually Stepping Down

Very fast moving events in Egypt today. It appears that Hosni Mubarak is stepping down. Al Jazeera is reporting that Mubarak was absent from a meeting of his military council, suggesting that the Army is poised to take control.  This is all unconfirmed for now, but the signs seem to point to the fact that Mubarak is stepping down tonight.

The question big is: will the army provide for some sort of widely representative transitional government to help oversee the transition to democracy?

UPDATE: Addressing the country moments ago, Hosni Mubarak said that, in fact, he will not step down.  Nothing much has changed since the previous announcement that he will not run for re-election in September.  The crowds in Tahrir square appear very displeased.