There has been a lot of discussion and commentary on different blogs, reddit and digg (to name just a few places) but the overwhelming consensus seems to be that Microsoft is at least taking a good step in the right direction and making a decent effort this time at standards compliance.

You can have a look at how the Acid2 test renders in a range of browsers here

The IEBlog post that announced it correctly renders Acid2 (at least in that particular branch of development) might also be worth a read.