Teleportation involves the disembodiment of an object in one location and the exact reconstruction in other location. It is believed this is the first time teleportation has been demonstrated to be possible. The research team disassembled laser light at one end of an optical communications system and recreated a replica just a metre away. However it should be possible to this over much larger distances.
It will eventually make computing much faster (claims of a million to a billion times faster than the best computer available today) and more secure - e.g., you would teleport relevant information straight to the appropriate recipient. That's 100% encryption folks (unless you type in the wrong address or the like).
While Australians can't field a soccer team that can make the world cup (eliminated against the 5th ranked Sth American team; Uraguay - thanks Mark Viduka, thanks Harry Kewel), at least we can do some groundbreaking quantum entanglement work.