SpaceX Goes Back to the Future to Create reusable HLV

Taking a cue from NASA technology more than three decades old, SpaceX announced the successful completion of its Falcon 9, Evolved Expendable Launch Vehicle, the most cost efficient type vehicle in its class. Launches of say, 21k pounds, to Low Earth Orbit will run in the neighborhood of $27 million, a far cry less than the going rate of closer to $100 million.
Like the old Saturn 1 with eight thrust chambers and the still in use, hugely successful Soyuz manned rocket, with 32 chambers, the Falcon 9 uses a cluster of nine engines. This results in a higher rate of propulsion reliability. Which means, you can lose an engine or two, or three, and still complete the mission.
Right now SpaceX is busy earning a little capital compliments of the U.S. Air Force and DARPA, but their main goal has always been to reduce the cost of travel to space by a factor of ten. The maiden launch of Falcon 1, carrying FalconSat-2 for the Air Force Academy, is scheduled to lift off this fall from their island launch complex at the Kwajalein Atoll, part of the Republic of Marshall Islands.

Way to go Elon Musk! Not too shabby...