Get to it, Egypt:
In his surprise announcement, Mubarak said the country needed "more freedom and democracy," responding to critics' calls for political reform in Egypt. The possibility of a democratic election comes shortly after the historic elections in Iraq and the Palestinian territories that brought a taste of democracy to a region the United States has urged to reform.
I hope this is a sign of things to come.
UPDATE:
Egyptian blogger Big Pharaoh has more thoughts on this.