Since Eric Lindholm brought it up:

ABC News has learned that the New Jersey Democratic Party will announce
that Congressman Frank Pallone is their choice to replace Senator Bob
Torricelli.

Pallone, an eight-term congressman from Middlesex County, is popular with
Democratic constituencies, and will likely be favored to hold the seat for
his party IF he can replace Torricelli on the ballot.

That remains, however, a big IF.

Democrats will make their argument tomorrow in court, but our reporting so
far suggests that they don't have a very strong hand. The legal twists
and turns, however, are likely to go on, no matter which side wins this
first battle.

UPDATE
Or not:

ABC News has learned that because of unresolved family issues,
Pallone may be backing out of the race.

All sources say that the Pallone pick was signed off on by all the senior
Democrats in Washington and New York (including Majority Leader Daschle,
Torricelli, Governor Jim McGreevey, and Senatro Jon Corzine), and that an
announcement was being planned for later today.

According to two sources, Pallone accepted without checking with his wife,
who opposes his running.

The pick, and the timing, return to flux. Former Senator Frank Lautenberg
is said by many Democrats to be the alternative.