This just came across on my local news... Looks like both baseball and softball didn't receive enough votes to continue on with the Olys. I think this goes into effect in 2012.
I don't have anything against baseball or softball but they don't really belong in the Olympics....just takes way too long to watch. If I was attending the Olympics, I would rather catch a bunch of events rather that sit through a 4-hour game. I did enjoy watching softball though so that's a shame.