The news this morning made it look like Qaddafi had folded almost immediately.
But there are still scattered reports of attacks by pro-Qaddafi forces. From the BBC:
While the Libyan foreign minister was speaking of a cease-fire, an eyewitness in Misrata, who has asked to remain unnamed, told the BBC there was heavy fighting between rebels and the brigade forces, and that several civilian buildings had been hit. “We are terrified,” she said. “He [Qaddafi] is going to kill us all.”