Lots of updates on this, so I'll just put them all in one post:
The big news of the day is that IBM has finally filed a countersuit against SCO. You can read about it on CNet News.com and in the Reuters story. The countersuit centers around two central points; that SCO's of IP infringement are basically null and void becuase SCO themselves distributed their IP under the GPL, and that SCO's nearly entire range of products violates 4 patents from IBM's extensive patent portfolio. You can also read a recent letter sent to IBM's sales force about the SCO suit.
As you can read about in a previous post, Red Hat has also filed suit against SCO, seeking an injuction on its spread of FUD. CNet News.com is now carrying an interview with Matthew Szulik, Red Hat CEO, about the suit, and about Red Hat's place in the market.
Also indirectly related is the transcript of Bruce Perens' Open Source "State of the Union" address, which touches heavily on SCO's claims and it's impact on the open source community.
Finally, Kuro5hin.org has an intersting on how to get your own free Linux "license" from SCO, without paying their extortion fees.