This has already been hashed out in some detail over on Roger Pielke Sr.’s blog, but the Lyman et al. paper on ocean heat content is out:

We observe a net loss of 3.2 (±1.1) × 1022 J of heat from the upper ocean between 2003 and 2005. Using a broad array of in situ ocean measurements, we present annual estimates of global upper-ocean heat content anomaly from 1993 through 2005. Including the recent downturn, the average warming rate for the entire 13-year period is 0.33 ± 0.23 W/m2 (of the Earth’s total surface area). A new estimate of sampling error in the heat content record suggests that both the recent and previous global cooling events are significant and unlikely to be artifacts of inadequate ocean sampling.