Red Hat actually opened up the SPICE protocol yesterday during their Virtual Experience 2009 event. Somehow I missed that. Have a look at the press release if you are interested... as well as their site to house the new open source project - spice-space.org.
This seems to have caused some buzz in certain corners of the virtualization websphere (does anyone still use that word?) but so far no one has said what it could mean for us run-of-the-mill Linux users looking for a good, fast remote desktop protocol. I asked a couple of questions on the fedora-virt mailing list and received some informative replies. I haven't had a chance to actually check out the SPICE website in depth yet though. For those wanting technical documentation, I've attached their spice_for_newbies and spice_user_manual PDFs.
I did want to share with you my response to one of the articles about the SPICE release that I ran across. You can go there and see the context this came from but it is pretty self explanatory.