I liked how nytimes.com has handled the crash of U.S. Airways Flight 1549 into the Hudson River:

They lead off with a great info-photo (with text and inlaid map) that leads into a flash animation showing the chain of events. There's also a multimedia section with prominent links to video and (this is important) of reader-submitted photos.
There are two main stories and a link to their City Room blog for updates (last one at 8:45 p.m. ET; I'm writing this at 8:52 p.m.), eyewitness views, and for people to leave comments.
There's an email link to send in photos and a link to a statement from U.S. Airways.
A very solid treatment of a major breaking news story!
One complaint: There's no separate page for the lead-off photo-animation.