North Korea fired the missile they had been telling the world they were going to. The first stage of the missile landed where it was planned, but there is some debate as to what happened to the rest of it. The Japanese did not shoot down the rocket as they had threatened to do if they felt it posed a danger to their territory (Berman Post: Japan Threatens to Shoot Down North Korean Missile: "North Korean Missile"). The North Koreans said they have successfully put the satellite into orbit but the United States believes it crashed in the Pacific. Japanese ships are trying to find the remains to see what they can learn. Despite an emergency UN meeting, there has been a stalemate on what action to take in response thus far.
More at http://news.yahoo.com/s/ap/as_nkorea_missile, http://news.bbc.co.uk/2/hi/asia-pacific/7982874.stm, and http://www.reuters.com/article/newsOne/idUSTRE53058220090405?sp=true.