This just in from the USGA...
RULES OF GOLF CHANGES FOR 2008 SET BY USGA AND R&A
Far Hills, N.J. – Beginning in 2008, a golfer will be allowed to lift a ball for identification in a bunker or water hazard. However, there now will be a two-stroke penalty for playing a wrong ball from a hazard. In match play, the penalty will be loss of hole.
For the entire annoucement, click here.