Good news for the world.
It will be interesting to see what the pro and anti Bush camps make of this news. Well, obviously, Bushies will take it as an indication of the success of their post 9/11 policies, and if this leads to a further reduction of WMDs worldwide it will might make the fact that there doesn't seem to be any in Iraq less of a problem.
Cynics might say that since Qadafi's nuclear programme was not exactly well advanced, this could just be a smart move by the wily Colonel to rehabilitate himself with the West at little or no cost to himself.