We received two search "weather reports" last night, the first from the Yahoo Search Blog that announced that an "index update" that has begun rolling out last night. The other from Matt Cutts blog that informed us of Google's "update on search quality/infrastructure on Google going into the fall."
Yahoo told us to expect "some changes in ranking along with shuffling of the pages that are included in the index" but based on my tracking of the search forums, either there is not enough shuffling or Yahoo isn't sending enough traffic these days for SEOs to care about it. So keep an eye out for that.
Matt Cutts basically gave a summary of what happened since his last Google weather report and what to expect in the short-term future. He mentioned Big Daddy, their crawl caching proxy, the new supplemental index, the site: command update, and much more. He also posted on smaller issues later in the night on, as a continuation to his weather report.