Who's Building It: SpaceX, Elon Musk's start-up space company
Key Features: Commercially developed, hinged nose-cone conceals docking port
Powerplant: 18 Draco thrusters, launched aboard SpaceX Falcon 9 rocket
Capability: Low Earth orbit for ISS resupply or astronaut transport
Capacity: 7 crew, or >3000kg in 14 cubic meters of space
System It Replaces: Space Shuttle crew or cargo to Space Station
Due Date: In service as cargo ferry in 2010, crewed vehicle demoed by 2010

Dragon's being dubbed as America's first privately funded manned orbital space capsule--a mouthful to say, but its essentially following in the footsteps of SpaceShipOne which was the first privately funded manned space vehicle ever. Superficially similar to the Orion modules, but smaller, Dragon's more of a cheap 'n' cheerful way to haul cargo and people to the ISS.