To me it feels like it did when Hodgson was sent on his way and the King was brought in as caretaker - the sense that some very grey clouds have rolled away and anything is now possible.
In terms of a permanent appointment, I'll go as far as to say it's the most exciting I've ever known. High praise? Certainly, but when we had that conveyor belt of Shanks followed by Paisley followed by Joe Fagan the appointments themselves didn't feel exciting (though the subsequent titles and European Cups did), nor has any appointment since then brought this kind of feel-good factor with it, not in my experience anyway. And that's from someone whose first choice would have been Ancelotti.
Time will tell how it works out in practice, but I'll take such an optimistic start for now.