Via Slashdot:

Last night a high-speed magnetically levitated Japanese train set a new record of 581 kph, topping its own record set just last month. The new Maglev high speed had real passengers on board this time. They proved that the distance between Osaka and Tokyo can be covered in one hour's time. However, we wouldn't see real trains for a while now since the cost is prohibitively expensive at this time. They expect that the cost would come down over the next 20 years. This seems to be the future of transportation, at least in Japan. Here is a detailed article from The Japan Times.