The story is at NetworkWorld's site. You can also read official press release.
Lots of our community did Seti@Home for a long time, but lost interest when the official client started keeping count of work done in a way that made direct competition to do more than the other guy harder to guage. I, personally, have kept it up, on at least a couple machines.
I would like you to reconsider lending your spare computing cycles to the project. I think it is important scientific work and hope you will, as well.