The fourth launch attempt of SpaceX Falcon 1 was successful. Launching at 4:15 PM, the vehicle reached orbit about 9 minutes later. Falcon 1 has made history as the first privately developed liquid fueled launch vehicle to achieve earth orbit!
UPDATE 5:14 PM
MSNBC.com now has an article by Alan Boyle giving details of the launch.
UPDATE 7:06 PM
Video of the launch: