This will be a big new story.

Craig Venter's company appears to have succeeded in creating a synthetic genome and getting it into an emptied-out (prokaryotic bacterial) cell, essentially changing the cell into a new species. This is going to be huge. Of course, we still don't actually understand what everything in that custom genome does, exactly - much of it is copied from another bacterium species. Still, it's an amazing achievement that one can design (on a computer) a DNA sequence, stitch it together via various methods, and get a cell to "run" that software.