Benedict waives the five year period and moves right to Beatification...On the annivesary of the day he was nearly martyred in 1981...Feast of Our Lady of Fatima...I'm betting he'll be Beatified next year on this date and eventually it'll probably be his Feast day as well--given that he died during the Easter season.
From Vatican Information Service:
Benedict XVI today announced the opening of the cause of beatification of John Paul II, waiving the normal waiting period of five years after the death of a Servant of God. The Pope made the announcement in the course of a meeting with the Roman clergy in the basilica of St. John Lateran.
Instante Em.mo ac Rev.mo Domino D. Camillo S.R.E. Cardinali Ruini, Vicario Generali Suae Sanctitatis pro Dioecesi Romana, Summus Pontifex BENEDICTUS XVI, attentis peculiaribus expositis adiunctis, in audentia eidem Cardinali Vicario Generali die 28 mensis Aprilis huius anni 2005 concessa, dispensavit a tempore quinque annorum exspectationis post mortem Servi Dei Ioannis Pauli II (Caroli Wojtyla), Summi Pontificis, ita ut causa Beatificationis et Canonizationis eiusdem Servi Dei statim incipi posset. Contrariis non obstantibus quibuslibet.
Datum Romae, ex aedibus huius Congregationis de Causis Sanctorum, die 9 mensis Maii A.D. 2005.