Microsoft is calling a new vulnerability/exploit floating in the wild a 'browse and get owned' attack vector. The victim simply has to visit the compromised site to get infected -- no handy pop-ups asking you to install stuff, no notices to install new activeX... just a silent install of malware.
Most of the sites that a compromised are currently serving Chinese-related content, but that could change quickly.
MS has published a temporary fix (http://support.microsoft.com/kb/972890) And will have the permanent fix as part of next week's patch Tuesday updates. There are an additional 2 Internet Explorer vulnerabilities being patched next week, but the details of those are sketchy.
The temporary fix uses MS's 'Fix IT' to disable the Video ActiveX control that is vulnerable. There is also an 'unfix it' option to re-enable the control. I ran the fix and so far have not seen any negative effects. Manually disabling the control can be done by editing the registry (not recommend!) to set the 'kill bit' for the control.
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