P != NP

Someone posted this in a thread on the imageboard and I thought it deserved a thread here:
An HP Labs researcher named Vinay Deolalikar claims to have a proof that P != NP.  His proof is available here:
http://www.filesonic.com/file/16344911/pnp12pt.pdf

>>10
It has a lot of implications and practical importance. However there are doubts about the proof presented in the OP.