Well, it looks like something between a popular uprising and a military coup just took place in Egypt, as Hosni Mubarak has resigned as President and left the capital:

Egypt erupted in a joyous celebration of the power of a long repressed people on Friday as President Hosni Mubarak resigned his post and ceded control to the military, ending his nearly 30 years of autocratic rule.

Shouts of “God is Great” competed with fireworks and car horns around Cairo after Mr. Mubarak’s vice president and longtime intelligence chief, Omar Suleiman, announced during evening prayers that Mr. Mubarak had passed all authority to a council of military leaders, bowing to a historic popular uprising that has transformed politics in Egypt and around the Arab world.

Protesters hugged and cheered and shouted, “Egypt is free!” and “You’re an Egyptian, lift your head.”

“He’s finally off our throats,” said one protester, Muhammad Insheemy. “Soon, we will bring someone good.”

The departure of the 82-year-old Mr. Mubarak, at least initially to his coastal resort home in Sharm el-Sheik, was a pivotal turn in a nearly three-week revolt that has upended one of the Arab’s world’s most enduring dictatorships. The popular protests — peaceful and resilient despite numerous efforts by Mr. Mubarak’s legendary security apparatus to suppress them — ultimately deposed an ally of the United States who has been instrumental in helping to carry out American policy in the region for decades.

The country is now being run by a “council of military leaders,” but they have made strong assertions that they will return the country to civilian rule, and something resembling a representative democracy, in a timely manner, but, there have been lots of promises throughout the Arab world about reform of governance, and they generally have not panned out.

Time will tell, I guess.

^*“Ph’nglui mglw’nafh Cthulhu R’lyeh wgah’nagl fhtagn,” (In his house at R’lyeh dead Cthulhu waits dreaming) as the fictional “Mad Arab”^†, Abdul Alhazred, would say.
^†And yes, I appreciate the irony of referring to the “Mad Arab” in the context of the overthrow of an Arab despot.