As New Scientist reports, "the experiment stands as proof that evolution does not always lead to the best possible outcome. Instead, a chance event can sometimes open evolutionary doors for one population that remain forever closed to other populations with different histories."
UPDATE (June 11, 2008): Michael Behe has written a commentary on this result, which Ed Brayton criticizes at Dispatches from the Culture Wars.
UPDATE (June 13, 2008): Science writer Carl Zimmer has written a nice summary of this research, and the primary author of the research shows up in the comments to answer questions at comment #80.
UPDATE (June 18, 2008): Lenski responds to a letter from Andy Schlafly of Conservapaedia.
UPDATE (June 24, 2008): In a further exchange with Schlafly, Lenski politely shows Schlafly to be an idiot and a jerk. (The link edited out by Conservapaedia is to RationalWiki's article on banning at Conservapaedia.)