Welcome CMIS, congratulations!
Today a broad group of document management vendors led by IBM, Microsoft and EMC announces their efforts of around a protocol specification for content management interoperability.
I would like to congratulate the group to all their efforts that has been put into this specification and we look very much forward to participate actively in the standardization process that hopefully will be kicked off soon.
I am excited that the ECM market has decided to start supporting a protocol specification, which was an often discussed gaping hole in the content management market (see here and here).
Having a protocol that functionally matches on a protocol level what JCR specifies on an API level for Java is an outstanding opportunity for the industry on its road to become truly relevant enterprise infrastructure and definitely validates all our standardization and infrastructure efforts we have been involved in over the past years. Thus, me and my colleagues at Day would be very happy to contribute our JCR and REST knowledge and experience to future versions of the specification.
Thanks and congratulations to Al Brown, Ethan Gur-esh and David Choy.

But how RESTful will the API be? Which raises the question, is there a link to a CMIS spec draft?
the CMIS documents published so far can be found e.g. here (right sidebar "Technical Documentation")
Michael
You have the correct long-term expectation, and the v0.5 spec that Michael pointed you to--more references on my blog: http://craigrandall.net/archives/2008/09/cmis/--is exactly what is being submitted to OASIS for a new TC to pursue to v1.0 finalization.
If your focus is REST specifically, then I encourage you to look at the Part I document followed by the Part II (REST binding) document.
Regards,
-Craig