I am pleased with this choice. My own first choice would've been Cardinal Francis Arinze of Nigeria, but, between these two it's clearly win-win.
There are some good articles out there on the new Pope Benedict XVI -- unfortunately the New Republic article by Erica Waters is not one of them. Here's a clip (via NRO's the Corner):
It's his humility, indeed his lack of desire for the job, that I find most compelling. Anyone who has seen him up close (as I have) knows the reality of the man confounds his image as an enforcer. Shy and soft-spoken, he possesses a scholar's temperament and in his youth was considered a theological innovator. He often wins over the wary after personal meetings. Many Protestant theologians in Germany and America, for example, speak warmly of him after engaging in scholarly give and take. Far from being power mad, he has for years pleaded to be allowed to resign from his office and return to teaching, but John Paul wouldn't consent.
Here's John Allen on what a Ratzinger papacy would look like. Michael Novak on the most journalist friendly cardinal.
And don't forget to check out the Ratzinger fan club.
Last, I'm sad to say, this (i.e., the name Benedict*) fits into the prophecies of St. Malachy, mentioned earlier. Specifically, the line for this Pope is "Gloria olivæ," which ties into St. Benedict and the Benedictine order.
Kendall Harmon recalls Cardinal Ratzinger's greeting to the Confessing Episcopalians in Plano last year. I remember I wept with joy when I heard this news.
* I seem to recall reading some speculation in the past week that if it was Ratzinger, he would choose the name Benedict as there was a tie between St. Benedict (or one of the Pope Benedicts) and Germany.