The first stage has nine engines and develops a million pounds of lift.
It can carry three times as much supplies up to the space station as the Soyuz currently does, but only a little over half as much as the space shuttle.
The first stage lifted off and very smoothly flew to a height of about 50 miles up in three minutes, afterwards there was a good separation and the second stage continued on.
At some point they achieved orbit about eight minutes after liftoff, but the second stage did do at least a full roll -- that I am certain was unplanned, but the Dragon capsule actually achieved its final planned orbit within one percent of its target.
So this was a near perfect launch, marred only by an earlier in the morning abort on liftoff with four seconds left when an engine anomaly was reported by the computers. But around an hour later we had the launch.
I believe the mockup Dragon capsule is expected to stay in orbit for around seven months before burning up upon reentry.
This capsule can carry some 23,000 lbs of provisions or equipment into low earth orbit and to the space station. It also can transport up to seven astronauts on and off the space station in a personnel configuration.
They also restarted the second stage to adjust the orbit a little!
One disappointment was the first stage is supposed to float back to earth on parachutes and be recovered for reuse. Apparently it broke apart on its way back down and left a debris trail over the ocean.
Report from Space.com
Mission Status Center
SpaceX still grabs of launch
Remote camera stills
How dependent Obama has become on this private rocket