I vaguely recall reading that the word for last year was "w00t". For those who don't know, it's kind of a gleeful exclamation, as in: "Gee, your hair isn't all greasy today! W00t!"
(Hey, I didn't make it up.)
Here's an interesting motion for the word for 2008: Solastalgia. Found it here.
I think I have lived that experience. I vote it goes into the finals--if there are any other words up for the running. Heck, it's a more sensible race than that other voting thing everyone's talking about.