The event is open to the public - check out Scaled's FAQ about the launch for more information. Excerpt from the FAQ:
Q: Who is invited?
A: Everyone, especially children. They will want to tell their children that they were there to see the event that triggered the industry of private space tourism.
UPDATE: Mike Melvill has been selected as the pilot.
UPDATE: Successful launch, attainment of space altitude, and safe return to Earth! SpaceFlightNow has the blow-by-blow report. Apparently the International Space Station was passing overhead at the same time and the crew attempted to take photos, which should be interesting indeed. The space station orbits at about 360 Km, which is about six times higher than SpaceShipOne reached in today's historic flight.