Seriously awesome! Nobel worthy if it pans out. http://www.telegraph.co.uk/science/science-news/11151909/Cure-for-Type-1-diabetes-imminent-after-Harvard-stem-cell-breakthrough.html
In type one your body kills the ability to make beta cells, the cells responsible for making insulin. So this procedure makes new beta cells for you....problem solved In type two, the body can make the beta cells, but the body has a hard time processing the insulin once it's been made. So additional beta cells would likely be of little or no benefit.
Once this becomes approved and type 1 is curable, I wonder how many Christains who had been opposed to embryonic Stem Cell research will not cure their children since the cure is only due to embryonic stem cells.