Of all the new features of Adobe Lightroom 3, this one just may make the biggest impact to workflow. Up to now, if corrections were needed due to lens distortions, it was necessary to open Photoshop. It now seems that Adobe is putting these features into the new Camera Raw 6, Photoshop CS5 and Lightroom 3! Check out this video with Tom Hogarty — the Lightroom and Camera Raw product manager.
It appears that Adobe will ship with a standard set of camera / lens profiles. They also state in the video that they will make the profile generator available to the public!