Actually, I don't know what Bing really stands for, and I wasn't part of the branding/marketing behind it. But I am part of the team that is working on the shopping part of Bing, and I must say these are exciting times. Although not as exciting as when it is actually released (even if I will be spending all night in the office).
My favorite writeup so far.
Update: I now have a new favorite writeup. Er, video.