The latest news from LDS regarding their major digital conversion from microfilm to digitized computer images is explained in a very easy to understand description at: http://www.lds.org/library/display/0,4945,40-1-3384-9,00.html.
The church figured that the final conversion date would have been a few lifetimes away when this project first started, and then it went down to an estimate of 30 years, and now with new streamlined methods of conversion the completion of the project to convert just about all of their holdings is just going to be in the not too distant future.
There is no doubt that the enormous amount of data that has been presented by the church and their countless volunteer workers has been extremely helpful to researchers to date but “you ain’t seen nuthin’ yet!”
Once the images have been digitized from the several million rolls of microfilm there will be an ongoing project to index all of this data. You are all going to be able to use this data from any internet connection!
To learn about the indexing project, go here: http://www.ldsindexing.org/
You do not have to be a member of the church to volunteer to help with the indexing.