This is a Big Deal™, as it means so long as your lens has a profile it will be automatically corrected by lightroom.
You can also create your own lens profiles if you so wish.
There's also manual controls for missing lens profiles, and there's also manual transformation controls to account for keystoning problems that you would normally need a tilt shift lens to correct. Very helpful for architectural shots.
It'll be part of LR 3.0 when it's released, whenever that will be.