Talking about 2010 now for NCLB Reauthorization.
In my opinion, I would rather wait until 2010 and have Congress' and the President's full attention rather than a hurry-up reauthorization in 09. The benefit to an 09 reauthorization, though, may be limited federal expansion as any new spending right now will be hard to pass outside of infrastructure issues. So, for you limited federal involvement types out there, you may want to root for an 09 reauthorization. But, I think there will have to be a dramatic improvement in the economy and our foreign policy situation for education to get any serious treatment in the fall.
By the way, if you want to watch the Arne Duncan confirmation hearings going on today, you can watch them here.