Some unconfirmed (which means no one has shown the body to the AP cameras yet) reports say Col Gaddafi has been wounded, others that he has been killed.
But -- if true, now the real problems begin. He will have a long trial to convict him of the crimes against Libya. And now the rebel alliance has to govern. Good luck Libyans. I hope you have a better time of it than your neighbors in Egypt - who are discovering that they're still under the boot of the Army.