Firstly, my sincere condolences to all those who were affected by the tragedy. It was a horrible day and I am sure a lot of family members got affected. I hope all the brave people of Mumbai are standing strong against these horrific act. My thoughts and prayers are with you and your family.
So over at TechCrunch there is this thread about how Twitter provided faster news source about the horrible Mumbai terrorist attacks. To me Twitter only provided me with information with no context. When I turn on the tv news channel or read the newspaper (via web or actual paper) I not only get news, but I get news with context.
Personally, I found out about attacks via my RSS feed from variety of news channels. When I saw the headline, I clicked on the link, read the news story, went to other networks to see if they had better (different) coverage and viola; got my news.
Sorry but to me Twitter is just another noise making tool, nothing special.