[update 2] Clearly and as facts are emerging it would seem that most of the speculation below is all wrong. I am just relieved to know that the police handled this quickly and and professionally while following the trail that Faisal left behind. Police grabbed the man believed to be responsible for the bomb, Faisal Shahzhad, at JFK airport trying to board a flight to Dubai.
[end of update 2] Bumped with a fresh timestamp - originally posted 2010-05-03 08:23:35 -0400.
Steven D at the Booman Tribune has been following this and piecing together the who, what, where, when and why of the attempted bombing in Times Square as best he can: