I first caught the news regarding this on the Lubuntu QA mailing list:

http://fridge.ubuntu.com/2013/03/19/...t-methodology/

Of importance ATM:

What does this mean for users?

This means that the TB voted that the 13.04 release will get nine months of support. There was discussion about applying the principle retroactively, back to the 12.10 release; however, the TB felt this was backing out a promise and they did not want to set such a precedent.
But there is a "but":

What does this mean for users?

This is akin to providing what Rick Spencer had labelled a “rolling release”. The general idea being that a user could opt for continuous upgrades on what is essentially the development release. For example, if a user was running the development series and updating daily then when 13.04 became a standard/non-LTS release, that user wouldn’t have to to do anything to then start getting updates for the 13.10 release.

The TB voted to allow the development team to enable this capability of tracking the development release without intervention. However, the specific implementation questions yet to be determined include how to enable users to continuously track the development focus of Ubuntu without having to explicitly upgrade.
So the support period is determined but all else is still TBD

I honestly think this sounds good