King David's Palace Located in Jerusalem?

This could turn out to be a very big story (h/t The Corner):

An Israeli archaeologist says she has uncovered in East Jerusalem what may be the fabled palace of the biblical King David. Her work has been sponsored by a conservative Israeli research institute and financed by an American Jewish investment banker who would like to prove that Jerusalem was indeed the capital of the Jewish kingdom described in the Bible.

Other scholars are skeptical that the foundation walls discovered by the archaeologist, Eilat Mazar, are David's palace. But they acknowledge that what she has uncovered is rare and important: a major public building from around the 10th century B.C., with pottery shards that date to the time of David and Solomon and a government seal of an official mentioned in the book of Jeremiah.

The discovery is likely to be a new salvo in a major dispute in biblical archaeology: whether the kingdom of David was of some historical magnitude, or whether the kings were more like small tribal chieftains, reigning over another dusty hilltop.

The find will also be used in the broad political battle over Jerusalem - whether the Jews have their origins here and thus have some special hold on the place, or whether, as many Palestinians have said, including the late Yasir Arafat, the idea of a Jewish origin in Jerusalem is a myth used to justify conquest and occupation....

It will be fascinating to see what they dig out of there, and whether or not they can authenticate the artifacts as coming from the right period of time to be associated with King David.