Ha’aretz are reporting PLO Arab sources as proclaiming that Terrorfat is dead, while the Jerusalem Post quotes PLO Arab sources as saying that he has hours to live. What seems clear is that the announcement of his death will occur today.
It looks like Ha’aretz was dead on correct (pardon the pun) when it reported the following yesterday:
Sources in the defense establishment believe Tuesday will be the day on which the Palestinians will ask to disconnect Arafat from life support and announce his death.Tuesday night marks Lailat al-Kader, the night Muslims believe God revealed the Koran to the prophet Mohammed. The death of the Palestinian leader on that day will, therefore, be symbolic.
5:15PM:

(Reuters)
“He’s not dead. He’s a very naughty boy!”