This is an excellent development. I must admit that I feel his death should have been more ignominious, and a more painful death would not have bothered me. Feelings aside, my belief is that unimaginable eternal suffering awaits this evil man, so his manner of death is really unimportant.
InstaPundit has an excellent roundup.
UPDATE: Centcom's site has video of the air strike that killed Abu Musab Al-Zarqawi.