OK, so, it looks as if the numerous rumors are coming true!

The WGA has reached a tentative deal with the Alliance of Motion Picture and Television Producers. (Have you ever heard 16 such wonderful words?) At 3 am Saturday morning — following all-night talks — the union's East and West Coast presidents zapped off emails (cited here by United Hollywood) to their membership stating that a deal has been made through 2011 that "protects a future in which the Internet becomes the primary means of both content creation and delivery." Said offer (summarized here at WGA.org) is being detailed to WGA East members Saturday in New York, with their West Coast brethren to get the lowdown this evening. If all goes well, each coast's board of directors will confab Sunday to formally endorse the contract. In that scenario, scribes could be back at their keyboards as early as Monday, though WGA East president Michael Winship told reporters on Saturday, "There are several different alternative ways that the board and council could determine how this should be dealt with." source

So, yah, basically what that said is that the tentative contract still needs to be ratified by the WGA members, and once it is (please, God, let it be!), the writers can return to work!