5:50pm PT: Boston Police tweet: "CAPTURED!!! The hunt is over. The search is done. The terror is over. And justice has won. Suspect in custody." Watertown residents stream into streets to cheer police as cars roll back out of town...

5:47pm PT: Local media: Second "suspect alive, in custody, and they're asking for a medic. It's over." Applause heard breaking out around scene. || Boston Police tweet: "Suspect in custody. Officers sweeping the area."

4:31pm PT: "Barrage of gunfire" heard in Watertown. "Body found on a boat," reports NBC's Pete Williams. Area locked down, officials respond, reports of suspect surrounded...unclear whether person is still alive...

12:51pm PT: Noteworthy developments since I last checked in here. The suspects are brothers from Chechnya and have been in the U.S. for two years or more. The one who was killed is 26-year old Tamerlan Tsarnaev. The one still on the lam is 19-year old Dzhokhar. Here's another good timeline of the overnight events through 8:40am ET today as the city remains shut down during the on-going manhunt...

3:15am PT: All MBTA transit trains and buses have been shut down, as the man hunt continues. Since I suspect this is all going to be over, one way or another, by the time I wake up, and since it's the second near-all-nighter I've had here in a row, I'm going to try and hasten things by going to sleep. Though I'll likely still be following along and retweeting on The Twitters.

1:55am PT: It's been a wild night, where we've been trying to keep up with and/or make sense of developments via Twitter.

So far, one MIT officer has been shot dead. Another local law enforcement official is in critical condition after a gunfight with the alleged Boston Marathon bombing suspects. One of those suspects, the one seen in the black hat in photos released by the FBI earlier today, is now dead, according to officials.

The other suspect, in the white hat, is being pursued in the Watertown area at this time, where residents have been asked to stay inside, lock their doors, and do not open it unless it is for the police who are going yard-by-yard searching for the second suspect. He is believed to be armed and very dangerous.

Here, via CBS Boston, is what happened up until now, over the past 5 hours or so, according to a description offered by the Middlesex District Attorney...

First read this short story please. Then this one.

Thank you.

I'm getting ready for today's BradCast on KPFK/Pacifica, so, in the meantime, if you're wondering what you may have missed today, among other things, it seems the Boston Marathon Bomber has taken down another victim: CNN.

As Josh Marshall at TPM describes this montage, it was "CNN's 90 Minutes of Awesome"...

To be fair, it wasn't only CNN who blew it today, they just led the pack. Salon has the timeline of CNN's epic failure and the similar ones that accompanied it from Fox, AP and Reuters as well.

[UPDATED MANY TIMES AT BOTTOM OF ARTICLE, NOW INCLUDING FINAL WRAP (FOR NOW) ON THE DAY AFTER.]

From AP, via National Memo...

More photos at ThinkProgress...

The blasts reportedly occurred near the Marathon headquarters in a nearby hotel. The headquarters has been locked down. Additionally, NBC News is reporting:

MANY UPDATES THROUGHOUT THE DAY, AND A WRAP UP ON THE DAY AFTER, ALL NOW FOLLOW BELOW...