2010 Roth conversion taxable or not?

The Tax Increase Prevention and Reconciliation Act (TIPRA) of 2006 will eliminate the eligibility rules for the Roth IRA conversion beginning in 2010. That means that any individual will be able to convert an IRA into a Roth IRA. No $100,000 rule for income. Plus any conversions done in 2010 are not taxable. Can't wait for 2010. Oops, sorry we are talking about the IRS here. Get this, it all sounds good BUT, you have to pay the tax on the conversion over a two year period. 2010-2012. Thanks alot that really helps.