The Security Mentor

This looks like a serious but not spectacular one. There are only a few critical patches for June. Install right away, but don't panic (unless the problems turn out to be worse than we know).
UPDATE 6/13:
It's here, it's big, and it's important. There are multiple vulnerabilities of the sort that allow remote takeover of your computer. Some are in Internet Explorer (yawn) but others are in Word and Powerpoint.

The folks at Watchguard are pointing people to Microsoft's table of what's affected and what's patched.

I don't recommend panic yet, but remember it takes less than a week for bad guys to look at the fix, figure out what the problem must have been,and develop an attack. Install this set right away.

UPDATE 6/14:
Did I say "less than a week"? Attack code is circulating now. I'm not quite at the point of recommending panic but definitely drop what you're doing and run Windows Update if you haven't got it on automatic.

As Microsoft sees it, the three most critical are one which allows malicious web sites to take over your computer (but not if you're running an alternative browser), one in which you could lose control of your computer by looking at a picture from AOL in their "ART" format, and another set of Internet Explorer vulnerabilities.