Here's a Wired news article that discusses how speculation on the sniper's identity and motivation is sweeping the blog community. I particularly like this theory:

Is it completely beyond the realm of possibility that Jimmy Carter is helping to fund the activities of the D.C.-area sniper? After all, it was 'former' 'President' 'Carter,' who coined, in his ONLY speech to the United Nations in 1977, the phrase 'Dear Policeman, I am God,' and he has, in the past, shown interest in the black art of the tarot. The pattern is clear.

Oh my God. Why didn't someone think of that sooner?