You folks see the Google Analytics Real Time View (Beta)
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I was pretty impressed by the amount of data they can present to you and how quickly the site gets it to you.
Hit your GA account click the Home tab then click the Real Time (Beta) link in the navigation.
It is pretty impressive.
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It is a fun feature! here's some more information from Google about it, written when the first started releasing it.
http://analytics.blogspot.com/2011/09/whats-happening-on-your-site-right-now.html
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Wow it took me 4 months to notice it

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Google analytics has been slow but listening to user requests often.
I remember early last year I did a comprehensive comparison between google analytics and PIWIK , which at the time offered real data. A lot of people in the Analytics including Avinash kaushik mentioned PIWIK as one product offering real time data. This feature is quite nifty but at the same time does not yield instant insights.
I think over the course of time, this will get much better offering real time info on user patterns and what people are doing and clicking on your site. This is of course after a user permits being tracked.