Does anyone have any info on when/if the other engines wil be supporting this tool or coming out with their own versions.

are you talking about using a plug in for 'search friendly urls'? if so, most CMS's have this or you could get an plug in that will allow you to change dynamic urls into search friendly or what appear to be static urls.

Search engines already use these and it is part of SEOing a dynamic site.

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Internet Marketing Consultant and Pay Per Click Firm