It's in progress right now. Nearly 100,000 people have reportedly assembled to greet the NBA Champions at the Los Angeles Memorial Coliseum.
I have been listening and so far have gleaned a couple of important facts:
Josh Powell's hair is "blown out" for the occasion.
Kobe Bryant is wearing a shirt depicting a Nike puppet hand wearing four rings.
Sasha Vujacic is doing everything he can to get the crowd excited.
UPDATE: Jeanie Buss tweets that Phil Jackson skipped the parade to go straight to the coliseum, but missed out on a lot of fun, including the "biggest cutest smile" on Andrew Bynum's face, and fans throwing candy to Lamar Odom.