It's officially official, and none too soon as the last sequence of the prime mission terminates July 2, 2008.
We're already in the thick of science planning for the extended mission (XM). I, for instance, am working on a sequence that doesn't execute until late September. I would have been slightly miffed if the extension hadn't been approved.
Now we'll see if we get an extended extended mission (XXM - No really). Hey, it took us seven years to get the darn thing to the planet, we might as well get the most out of it while it's still functional. 2012, here we come.
If you were in charge, what would you do with Cassini at the end of the mission?
I can't believe you didn't give us ticky, but here is my alternative Cassini termination scheme anyway.