It is funny to remember that One of my first postings that got posted on slashdot was about SUN revoking then SCSL OEM like license given to FreeBSD foundation. You can still read it at slashdot, even though it is almost a year old. Many a linux distributions could not distribute Java with their distributions because SUN's license prohibited it.
I have not gone through the complete saga yet but I have read many a articles but I think I will rely on SUN it self.
Here is what I found;
Another Freedom for Java Technology
Sun started a revolution with Java technology 10 years ago. With a free runtime, an open specification, and a platform-independent promise of compatibility, Java technology became a gold standard in embedded devices, mobile phones, on the desktop and within the enterprise. Now, in 2006, Sun is open sourcing its implementations of Java technology as Free/Libre software. More
Join Sun's CEO Jonathan Schwartz and Executive Vice President of Software Rich Green for the launch event.
Visit the three new open-source Java communities that Sun is seeding and download the code: OpenJDK, Mobile & Embedded, and the GlassFish community.
Duke, the mascot of Java technology, is open sourced too.