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The patch of grass opposite the Houses of Parliament hasn't been this crowded since the formation of the coalition government in May last year.

The world's media are gathered as anticipation mounts around the globe.

Yes, today is the day Secretary of State for Wales Cheryl Gillan makes her long-awaited announcement on a commission on Welsh devolution.

As recently as June 21, Mrs Gillan was asked this question by a Plaid Cymru MP:

Jonathan Edwards: "To ask the Secretary of State for Wales when she plans to announce the (a) terms of reference and (b) membership of the review team for the inquiry into the ways in which Wales is funded."

Mrs Gillan: "The Government intend to announce their proposals before the summer recess."

So MPs turned up for work today looking forward to hearing the terms of reference and membership of what is known in some circles as ap Calman after the Scottish version.

Welsh First Minister Carwyn Jones did his best to increase the sense of anticipation earlier this month, emerging from a meeting in the Treasury to announce: "There will be an announcement before the parliamentary recess as to what the commission will look like, as to who might chair the commission and the length of time it would take to report."

And the most recent on progress on delivering the coalition agreement gave the end of July as a deadline: "Subject to referendum result, establish process for the Welsh Assembly based on that of the Calman Commission (end Jul 2011) - work ongoing."

It's still a work in progress - and a bit of a disappointment if you took Mrs Gillan's answer to Jonathan Edwards at face value. Here's the statement (in full):

"The coalition's Programme for Government includes a commitment to "establish a process similar to the Calman Commission for the Welsh Assembly" and the Government's proposals are now taking shape. I am pleased to inform the House of our plans so far.

"A key strength of the Calman Commission was its consensual approach, and the Government is committed to establish a similar approach in Wales. With this in mind we have worked with the Welsh Government and all parties in the Assembly to reach a broad consensus on how we move forward.

"An independent Commission will be established in the autumn to look at the financial accountability of the Welsh Government and the National Assembly for Wales. The Commission will examine issues of fiscal devolution and accountability in Wales and will focus on building consensus. It will take into consideration the work of the Holtham Commission and will make every effort to report on its recommendations in the autumn of 2012.

"After the Commission has reported and the Government has considered its proposals, the Commission will look at the constitutional settlement in Wales in the light of experience. The Commission will aim to report its findings in 2013.

"Work will continue between the UK Government and the Welsh Government over the summer, and I will look to make further announcements on the process after recess.

"The Government is committed to considering all aspects of the Holtham Commission's reports. Separate discussions will continue between the UK Government and the Welsh Government on Holtham's proposals for funding reform for Wales and they will be extended to include the operation of existing borrowing powers."