I recall reading interviews with Mr. Gosling where he expressed relief that Microsoft didn't do anything really imaginitive with their Java clone. It's great to be relieved about that, but I hope Sun won't miss the opportunity to fix Java even if it has to be at the cost of breaking compatability. This article points out many good ideas to that end.
I want to urge that we remember that even a new and improved Java that is not backwards compatible with previous Javas does not have to be called something else just because it can't compile older code. The last thing the U.S. software developer needs is a new buzzword that's not on their resume and which opens the door further for cheap foreign labor.