If you didn't see this post, go now and read the article.
 
For those of you who did read it, the story has been confirmed by Michelle Malkin (also see 2nd Update at bottom of this post):

Regarding Annie Jacobsen's intriguing article, I just got word from Dave Adams of the Federal Air Marshals Service (FAM). Adams confirmed that he spoke to Annie Jacobsen, was quoted accurately in her story, and confirmed some of the basic facts outlined in her article (there were 14 Syrians on the flight; they were questioned by the Los Angeles Police Department, FBI, FAM, and so on; they were a musical band).

She also later adds this: 

Just a side note. The air marshal, Dave Adams, was a bit defensive in confirming the story, which seems to lend unsettling credence to Jacobsen's account, in my opinion. Also, I've been trying to get a hold of the p.r. reps for WomensWallStreet.com. A receptionist said they've been swamped with calls since this morning. Am hoping this means my colleagues in the mainstream media are digging into the story, too.

Now that this story has been confirmed, it should be plastered all over the media. It certainly has the potential to affect most of our lives a heck of a lot more than Martha Stewart! So far I have not seen it mentioned on any major news media site.  Even Drudge isn't linking to it!
 
Here are some other reactions from the blogosphere:
 
Cori Dauber at RantingProfs explains how the media ignoring stories like this affects all of us:

You know, if you're a long time Rantingprofs reader (hell, if you're a casual and periodic Rantingprofs reader) that it angers and frightens me to see the mainstream media seemingly work to downplay the threat we face from our enemies, the threat we face right now, right here. In the fight against terrorism, our best defense may be taking the fight to the enemy, but next in line comes a vigilent population, and a population lulled into complacency by definition cannot be vigilent.
 
***
 
Did these people overreact?

How would you have reacted?

After all this time, we've got to be smarter than this.

Because our lives may depend on it.

But that isn't going to happen unless more people take the threat seriously, force a consideration of the issues, demand that we talk about security more.

People are already complaining about the "inconvenience" of checks, and taking their shoes off, and horror of horrors having to get to the airport early enough to stand in a line.

We've forgotten. Because we've been allowed to forget, even encouraged to forget, by a too-chic, what-me-worry media that instantly frames every warning as some kind of political conspiracy.

Enough.

AMCGLTD has found some reasons to be optimistic:

• "Several air marshalls" seem to have been present. To me, this strongly implies we are in fact profiling, we're just doing it a lot more subtly than dragging people off and searching them. I just can't see "several" marshalls being assigned to a garden-variety domestic trip unless some computer somewhere threw a red flag noting a lot of arab nationals were awfully interested in flying from Detroit to LA together.
• Law enforcement was most definitely waiting at the other end of the trip. If that group had just sat there reading magazines, I doubt anyone out of the ordinary would have been waiting at the gate.
• The flight crew and pilots were aware at all times about what was going on. Aviation Week has noted several times that pilots are asking for and receiving training in how to fly an airplane in a way that "disables unsecured persons" (via bouncing them off the ceiling like pingpong balls). Aviation Week reports that testing has revealed a simple .5g pushover was all that was needed to do the trick, easily within the realm of what commercial airliners are capable of.
• Most importantly, most if not all of the rest of the passengers were quite aware of what was going on, or at least what appeared to be going on. Three years ago, a hijacking meant a free trip to Cuba. Now, it means a wrestling match between a dozen arabs and a hundred-plus Americans scared out of their wits. Beat-downs, as they say, will ensue, perhaps before the air marshalls can even start moving.

Update 2: Michelle Malkin continues to be all over this report.  Apparently the Washington Post has been sitting on this story since Friday! Michelle also talked to the author, Annie Jacobsen, who will be writing a follow up story for Monday.  Michelle also says that ABC and NBC are now working on the story.  Be sure to read Michelle's post and keep going back for updates.
 
Captain Ed has this to say about the Washington Post:

Unless they were asked to hold the story by DHS investigators working an active investigation, the Post has some splainin' to do. Withholding this information from the public is the antithesis of the entire raison d'etre of a free press. It makes you wonder what side the Post is on.