Bond 23 is titled SkyFall.

The title was announced today (Digital Spy has the 'reveal' on YouTube) by the producers Michael G. Wilson and Barbara Brocolli in a press conference in London alongside director Sam Mendes, cast members Daniel Craig, Javier Bardem, Dame Judi Dench, Naomie Harris and Berenice Marlohe. Bond fans will love over the newly released logo:

There were a bunch of info revealed at the press conference, but before I comment on each, be sure to catch up with the general flavor of the press conference with the below article from the BBC:

MI6 had a great live blog throughout the announcement, so I'll comment on what I think each nugget of information means for Bond, and the franchise as a whole:

11:48am Producer Michael G. Wilson confirms the title of the 23rd James Bond film is SKYFALL.
Well first, the title. I've always been a fan of one-word Bond titles and think this is an interesting one. As revealed later on, it will have something to do with a grave situation - probably a reference to the well known phrase that the "sky is falling", that all hope is lost, etc. etc. More on the plot later, but as a title, Skyfall joins Goldfinger (1964), Thunderball (1965), Moonraker (1979), Octopussy (1983) and GoldenEye (1995) as the only one-worders. It has the distinction, however, (at least for now) of being a totally emotional one-word title, and not a last name or mission name.

11:51am Director Sam Mendes confirms the locations as Shanghai, Istanbul and Scotland. The script by Purvis and Wade and Logan is 'fantastic'. It will have a lot of action, despite press rumours to the contrary.
Although I'm always a fan of the Bond movie formula and action is definitely a part of that formula, I also think it can be overdone. In the hands of Sam Mendes, I have faith it will be handled correctly, but in my opinion, let's keep the number of action sequences to two or three.

11:54am The cast is confirmed: Daniel Craig, Javier Bardem (villain), Bérénice Marlohe, Dame Judi Dench, Naomie Harris, Ralph Fiennes, and Ben Wishaw. The first five are on stage.
Dare I say it: one of the strongest Bond casts "on paper" in history! Two well known and revered actors for villains and an unknown Bond girl seem to be the perfect formula. I really think a relatively unknown actress for Bond girl is essential, so check out Berenice Merlohe's IMDb here and celebrate - you're going to see a Bond movie without previous reservations or judgments about the Bond girl. No Halle Berry here!

12:02pm Naomie Harris says she has spent two months training for her role. She will play a field agent called Eve. No word of Miss Moneypenny being in the film.
A 'dud' of news in my opinion. Miss Harris could surprise me and do well, but as far as the quality of women sidekicks in the history of Bond movies go, sorry - they don't get high marks in my book. I always like to see Bond and his male colleagues in total control on missions. We'll have to wait and see on this one.

12:02pm Bérénice Marlohe will play 'a glamorous, enigmatic character called Severin'. The tabloid press actually got that one right. Confusion with the villain's name from the 'Carte Blanche' novel is bound to ensue, despite confirmation that SKYFALL is not related to any existing Bond property.
Yes yes yes on the Bond girl. And at this point I am okay with a Bond movie not related to any previous Bond property. All new adventure here, people!

12:06pm Javier Bardem is talking. "Who told you a villain is a bad person? For me, it's an honour to be at this table for many reasons. It will be fun to do."
It always seemed to me that Mr. Bardem was a clever and smart actor. I'm willing to bet this wasn't an ad-libbed statement. A double cross in the mix to help out MI6?

12:06pm Mendes responds to the tabloid chatter about his desire to scoop Oscar nominations given his incredible cast. "It's not the reason you do a movie and not the reason you do a Bond movie. For me, Bond movies are for the audience and what happens afterwards is out of my hands."
We'll see if I am wrong, but my prediction to the Bond Oscar question is unfortunately "no."

12:12pm When asked, Sam Mendes hopes to direct another Bond movie "if this goes well". The title SKYFALL has an 'emotional meaning' which will be revealed in the film. Quantum will not be involved.
Bad news to me. No Quantum? WTF! There go my hopes of a three movie arc for the villainous organization and a revisiting of the quality of SPECTRE. It seemed the last Bond film served it up nicely - not sure why it was abandoned, but color me disappointed.

12:14pm SKYFALL will be similar in tone to 'Casino Royale' - news which will be received well by the vast majority of fans. Daniel Craig confirms he does have a shirtless scene, too. Bond Girls rejoice.
Best news of the conference (the first part).

12:17pm When the panel is asked if the reason why three character names have not been revealed it is because fans would recognise them, the audience is told the question is well phrased and hint that is exactly the reason.
Very interesting. A crossover from another Bond movie/book? Slap a big 'question mark'/red flag/wild card on this news. Let the rumors begin.

12:33pm The first official plot synopsis is out: "Bond's loyalty to M is tested as her past comes back to haunt her. As MI6 comes under attack, 007 must track down and destroy the threat, no matter how personal the cost."
Licence To Kill anyone?? Seems like a bit of a rehash to me. Again, we'll see. And not sure how I feel about Bond movies that are M-centric. He/she is usually best as an "oversight" role for Bond on his missions. Maybe they want to showcase Dame Judi Dench more? She is a high quality actress, that's for sure. And an attack on MI6? Sounds like The World Is Not Enough. Bond's first run-in with terrorism in its modern form?

James Bond will return...