STS-114 has lifted off. They will arrive at the International Space Station on Thursday morning, where they will stay until Friday, August 5. Astronauts Steve Robinson and Soichi Noguchi will perform three spacewalks during the mission, "testing repair techniques and servicing the International Space Station." For a complete schedule see the Timeline of Significant Mission Events.
Check out Heavens Above to see if Discovery and the ISS will be visible from your location. It looks like I'll only have two chances toward the end of the mission, but that might change. I'm not sure whether an altitude boost of ISS is planned for this mission.
According to NASA current timeline and the assumption of a successful mission, this flight is a springboard to some exciting times for space travel including a new vehicle, a return to the moon and manned missions to Mars.