This is all over the news and various physics forums, so I might as well report it here till we get the technical details. As reported during the APS April Meeting that just concluded, the preliminary results from the Gravity Probe B seem to confirm that space and time are "distorted" by large gravitational bodies such as the earth.
More work needs to be done to analyze the data on frame dragging effects, so that will be another one to look forward to. Hopefully, when the technical paper on this is published, we will have more details on the results.
Edit: More info from Stanford and from PhysicsWeb.