With Office 365 GA on June 28th, many BPOS users are wondering when they will be moved and what the process is like. Microsoft has a site dedicated to this topic. The site includes an FAQ, paper and webcast. In addition there is a good webcast from technet on the topic.
In short, Microsoft has said that transitions should begin 4 months after general availability. That would mean approx Nov 2011. After that time, transitions will be completed in 12 months. Microsoft will move all the data for you and communicate with you about your schedule. You have choices along the way that allow to do a pilot or defer your move, but everyone must move by the 12 month period. There are some actions required on your part to update DNS and you desktops.
Bottom line is that you are not going to wake up on June 28th and find that you are on Office 365. You have time to plan and get organized about what you need to do. Some of you have complex migrations and glad to have the lead time. But still I wonder if people are going to just buy a new Office 365 account and migrate themselves to the new platform rather than wait.