I cant keep track of that place anymore.
In this case, there's nothing to really follow other than the symbolism that will hopefully kick start an actual process down the road. There were no agreements signed or even proposed, and no substantial negotiations. It was a one day event with 50 or so countries invited, so they were never aiming for that.
What's important is that 1) The US is actively and visibly pushing the peace process, 2) Bush spoke at the event, which tells everyone else involved that Rice and whoever else is involved with this has his backing and has the authority to cut a deal, and 3) Israel and Fatah leaders both committed to giving this a go.
The one big pitfall I can see is that Hamas (which runs Gaza) is being left out. The US and Israel would be trying to put together a lasting peace deal by dealing only with Fatah, and I don't think that's possible. The administration's habit of giving the silent treatment to governments it doesn't like hasn't paid off yet.
The other big pitfall, I suppose, would be that shit always goes wrong at some point, but I don't want to be fatalistic.