The Family History Library has around 2.5 million rolls of microfilm - the largest collection of genealogical sources anywhere in the world. A few years ago, FamilySearch announced their plans to digitize, index, and publish these records online. Paul Nauta, FamilySearch public affairs manager, recently said that their goal is "to create a searchable world index."
This searchable world index is actually progressing nicely. Its results are being published to FamilySearch's Record Search databases here thanks to FamilySearch Indexing volunteers. Anyone can volunteer by clicking here.
In an article published this weekend by the Deseret News, (thanks Leland for the link) Nauta gave us an update on the progress of the digitization efforts of the 2.5 million rolls of microfilm. He stated that "FamilySearch has 185 camera teams filming 60 million new images annually. Also, the Granite Vaults are having all of their microfilm (2.5 million rolls) digitized and that process could be completed as early as next year."