According to the Oxford English Dictionary, the word inauguration comes from a similar Latin word, meaning "consecration or instalment under good auspices or omens"--how appropriate given the love for Obama from so many.
I never watched the full inauguration before, and I only have vague memories of ever seeing the swearing in. There is a lot of pomp and circumstance.
It's also interesting to see how many notables--both politicians and celebrities--have been sighted on the way to the ceremony. We've seen Muhammad Ali, Magic Johnson, and every politician you can think of from Dan Quayle to Joe Lieberman to Edward Kennedy to John McCain to Al Gore to John Kerry.
Update: Bush and Obama enter the limo together from the White House. It's a black Cadillac (an American car) with two flags on each side of the hood.
More to come.