Last week (Jan 3) Microsoft announced the forthcoming content for Patch Tuesday (today) – Jan 8, 2012. (I think it snuck up on all of us!)
You can have Microsoft's security bulletins sent directly to you:
To receive automatic notifications whenever Microsoft Security Bulletins are issued, subscribe to Microsoft Technical Security Notifications.
Microsoft also hosts a webcast where they discuss the releases, typically the Wednesday after Patch Tuesday:
Microsoft will host a webcast to address customer questions on the security bulletins on January 9, 2013, at 11:00 AM Pacific Time (US & Canada). Register now for the January Security Bulletin Webcast. After this date, this webcast is available on-demand.
You can also follow the MSRC team at @MSFTSecResponse. Number of Releases: 7
Number of CVEs addressed: 12
Critical Security Updates: 2 addressing vulnerabilities in Windows, Office (2003 & 2007), Expression Web 2, SharePoint Server 2007, and Groove Server 2007.
Important Security Updates: 5 addressing vulnerabilities in Windows, .NET Framework, and Operations Manager 2007
Updates are typically released by Microsoft at 10am PT (6pm UTC).
Configuring WSUS servers to synchronize relative to that time can be helpful in expediting availability of these security updates.