This is big news today and a lot of people are posting this. Therefore, I'll spare the details, save for this bromidic promise (the article can be read here):
If room temperature fusion reactions could be realized commercially, as leishchmann and Pons claimed to have achieved inside an electrolytic cell, it promised to produce abundant nuclear energy from deuterium--heavy hydrogen--extracted from seawater.
Hope it's the real deal. BTW - the above Time Magazine cover is from 1989.