Hi! I wrote the original Compete blog for this story, and actually the huge 97% Google-Bing overlap was seen just in that first week between when the Bing brand was announced and when Bing officially launched. SINCE launch, the overlaps have held remarkably steady, but to your point--Chris--it is significant to note that 2/3 of all Bing users continue to overlap with Google (compared to only 1/3 overlap with Yahoo!). Shows that Google's audience tends to be less loyal overall -- it's an audience always looking for the new best thing. Jury's out as to whether that's Bing.
WebProNews received some interesting data from Compete, looking at how searchers are using Bing, with regards to how this use overlaps with the use of other search engines.
We have seen that Bing's search market share has edged up a bit since its launch. We don't know if Google is sweating bullets, but they have certainly indicated that they're not ignoring it. This data is really something to pay attention to though, because I think it is an often-overlooked fact that just because somebody uses Bing (or Yahoo, or any other search engine), it does not mean that they have stopped using Google.

Some standout stats from Compete:
- 97% of the Bing.com audience overlapped with Google Search in the week prior to launch (5/24 – 5/30).
- 30% of the Bing.com audience overlapped with Yahoo! Search during Bing’s launch week (5/31 – 6/1).
- The percent of overlap between the Bing audience with AOL, Google, and Yahoo! has changed little between launch week and last week.
What's good for Bing is that overlap with Google appears to have fallen significantly (since Bing's launch week). While it hasn't fallen an incredible amount with Yahoo, and has actually grown a bit with AOL, we all know that Google is where Microsoft really wants to make a dent.
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Whoa
That's amazing how that's happened. I'm curious to see Google's reaction to this and what they're doing in response . . .