Look out Galveston and Houston (or New Orleans)
Update: I gather, though, that in some models the projected path is being adjusted eastward, to take Rita over New Orleans (link from William Polley):
The latest GFDL model, one of the best hurricane models out there, is in fact showing a 150 MPH hurricane (strong category 4) slamming into New Orleans on Friday, with the NHC model taking it right through the city as well. The official NHC track will be adjusted eastward later today; they like to be conservative and want to make sure this thing is heading into Louisiana before they cause inevitable alarm along the Gulf coast. However, they should have 60 hours of lead time on this one, wherever it heads inland.
Just what those unfortunate people need... whew.