Good article on the SpaceX Falcon boosters over at Aviation Leak & Space Treachery. This looks very promising and could go a long way towards reducing launch costs. The Falcon I booster is designed to launch up to 1,500 pounds into LEO for $5.9 million (~$3900 a pound), far cheaper than competing vehicles like the Pegasus. The first stage is designed to be fully reusable except for a nozzle ablator.

The follow on Falcon V is even more interesting. The first version is designed to put up to 10,000 pounds into LEO for $12 million ($1,200 per pound). It's set to fly next year. By 2006, a different Falcon V version using the RL-10 upper stage engine is designed to send up to 10,000 pounds into GTO or up to 20,000 pounds into LEO. It'll cost $20 million, so you're talking $2,000 a pound to GTO and $1,000 a pound to LEO. By way of comparison, a Delta IV Medium with roughly the same capability costs $60 to $80 million.