Alan Shipnuck praises the timing of this announcement. 

3. Tiger's flaks. They finally got something right, making an early announcement to short-circuit the rampant speculation and give the world time to prepare, and doing it on a Tuesday, so as not to completely overshadow this week's Transitions Championship.

James Corrigan on the magnitude of the spectacle:

It also promises to be the most watched event in the sport's history and some are billing it as "golf's biggest ever event". That will not stop the journalists allowed in probing Woods for answers he may not wish to give. His interaction with his peers will also be of huge interest.

Bob Harig was among those talking to players at Innisbrook today and it's just heartwarming to read that no one will be receiving a call tomorrow from the PGA Tour Office Of Budget and Players Fines.

"It's good for the game," U.S. Ryder Cup captain Corey Pavin said. "I'm glad he's coming back."

Said Jim Furyk, "It was going to happen; it was just a matter of when. I think we're all looking forward to business as usual and getting back to normal. It will take at least a few weeks and maybe a few months for that. We'll see. I'm looking forward to not having to talk about it anymore."

Doug Ferguson also was on the range talking to players and shares this funny anecdote:

That announcement today (NZ time) was all it took for the Masters to become about one player. Minutes later, reporters flocked to the practice range at Innisbrook to find anyone willing to share any perspective about his return to competition.

The most awkward moment came when a reporter asked Rod Pampling, who frequently plays practice rounds with Woods at the majors, if he would seek him out at Augusta National.

"I'd love to," Pampling said. "But I'm not in the tournament. Thanks for reminding me."

Steve Elling also writes about player reactions:

The concern voiced by some is that the timing of the Woods comeback, in fact, will swallow the Masters whole.

"I think the Masters is bigger than that," former U.S. Open champion Geoff Ogilvy said, somewhat hopefully.

"If he contends, it will be crazy, obviously. But early-week, obviously the only talk will be that, but the Masters is bigger than that."

It's the highest-rated golf broadcast of the year for a reason, after all.

"Nothing can upstage the Masters, no way," Mediate said. "It's the Masters, man."

Brian Wacker talks to Notah Begay, who says Tiger is a new man.

Begay also added this entire experience has changed Woods for the better away from the golf course.

"It's been excruciatingly difficult for everybody," Begay said. "He's definitely a lot more humble and a lot more grounded.

"This whole thing has taken him from his stratosphere, to where he's had to evaluate himself and his priorities. There's a degree of humility that's much more apparent. And a little humility never hurt anyone."

Brian Keough talks to Padraig Harrington:

“Clearly he would be more competitive if he did play before the Masters,” Harrington said. “I think he is well capable of winning, but it is harder to win when you haven’t been playing and haven’t been competitive.”

Jeff Rude also made it to the Innisbrook range and talks to many happy players.

The numerous players interviewed Tuesday generally agreed that Woods’ return is good for golf.

They agreed Augusta National is the safest place for a Woods return because the environment there is so controlled. As Mediate said, “If people act up, they will be removed and their tickets will be removed forever.”

And they wonder why they are such supposedly well behaved fans! Tell that to Craig Parry.

Douglas Lowe considers the matter of press relations at Augusta and believes Tiger has questions to answer.

There are also questions over the health of his reconstructed left knee, his need to have platelet-rich injection therapy to accelerate healing, and why he chose to administer this Dr Anthony Galea, the Canadian who is under investigation for possibly supplying performance-enhancing drugs in the US.

I have not read any allegations that Woods has used performance-enhancing drugs, and during his February 19 address to the world he said: “Some people have made up things that never happened. They said I used performance-enhancing drugs. This is completely and utterly false.” That does not, however, answer the valid question of why Dr Galea?

Ed Sherman suggests that Tiger do a press event before the Masters to avoid a circus, which he fails to understand is the very point of playing in the Masters: to avoid questions!

It is absolutely essential for him to talk to the media prior to the tournament. One part may include a celebrity confessional with Matt Lauer or Larry King. Hard to think he would subject himself to a potential scolding from Oprah, but you never know.

Then Mr. Woods needs to do a mass press conference and face the music. He can't go through this without answering some questions. Whether he chooses to answer every question is up to him. Regardless, this is an exercise he can't avoid.

The press conference should occur the Monday or Tuesday prior to Masters week. He doesn't want to get in another situation where he takes the focus away from that week's PGA Tour event in Houston.

Scott Adamson writes:

Tournament officials can control media credentials, but that won’t stop a TMZ or National Enquirer-style publication from buying patron badges. And that means at every hole there’s the chance for an ambush, which will likely be handled quickly by security but probably not quickly enough to avert some kind of disruption.

Lawrence Donegan isn't expecting smooth sailing in the press center:

In the circumstances it is hard to believe the man of the moment would take the Fifth and avoid the media all week but do not put anything past the Green Jackets of Augusta, who make up the rules as they go along and might accommodate such cowardice, and certainly do not put anything past Fleischer, who built his reputation through obfuscation on a grand scale.

Yet, if Woods tries to dodge the microphones, he will never be able to escape the charge that, in announcing he will come back at the first major championship of 2010, he has once again put himself above the game and, worse still, put his own narrow interests above those of his fellow competitors.

Mark Reason also doesn't see how Tiger questions can stick to golf when he doesn't answer other questions first.

But can they control every question? The world wants to know what really happened on that fateful night when Woods crashed into the fire hydrant. It wants to know how many women there were and if Woods can save his marriage. It wants to know about his association with controversial doctor Tony Galea. It wants to know all those answers and many more.

Only when Woods has fronted up to that barrage will he be asked about golf.

In another story, Reason opines on Tiger's return so soon after making it sound like he'd be away from the game for a long time.

Tiger probably suspected that he would be coming back close to the Masters. He just chose to fudge it at his supposed moment of atonement. Will he never learn?

The news that Woods has chosen Augusta for his comeback to golf will also confirm his title as golf's Mr Selfish. When he disrupted the Accenture Matchplay by making his statement on the Friday of the championship Ernie Els accused him of selfishness.

John Paul Newport files this for the WSJ on the scene outside the media center:

Even so, there will be a few. Up and down Washington Road in Augusta near the club entrance, scalpers legally sell Masters tickets each year. More can be purchased through auction sites online. Badges for Thursday through Sunday competition rounds can fetch five figures. One way or another, you can bet a few yahoos will find their way onto the grounds this year and make themselves known to Mr. Woods. Who knows what creative things they are dreaming up to say?

It’s likely, too, that some of the people buying scalped tickets will be using funds supplied by the tabloids. Admission to the media center where formal interviews take place is tightly controlled, but I would expect Mr. Woods and other players to hear some eye-opening questions called out from the galleries.

Mike Walker paints this picture of the scene:

What's going to happen to the Masters when the Tiger circus comes to town? Get ready for souped-up security lines, paparazzi stakeouts at all entrances to the club (the Washington Road Starbucks is going to love this), and the ultimate "Where's Waldo?" as everybody tries to figure out where Woods is staying. Remember how John Daly selling T-shirts outside his trailer across the street from the club was a sideshow? Take that and multiply it by 5,000 and you'll get a sense of what the atmosphere will be like outside the tournament.

Scott Michaux doesn't see the town scene being a problem.

All the bombast and innuendo of the tabloid press, however, isn’t going to breach the perimeter of Augusta National during Masters Week. We’ll just need to put our blinders on when everything outside the gates gets put in the spotlight of a TV glare that doesn’t usually befall our little corner of the world.

I’m sure the TMZ’s and E! News and paparazzi will be filling up what’s left of the $400 a night hotel and motel rooms even without credentials to the tournament. Without access, they’re certain to throw the usual barbs at the commercialization of Washington Road that camouflages the golfing oasis that hides behind walls of bamboo and assorted greenery.

But who cares? Let them spend their money and take their pictures and make all the fuss they want outside of the golf tournament.

Dan Jenkins offers this suggestion via Tweet:

Mark Lamport-Stokes actually dares to wonder how his game will look.

The biggest question mark for Woods, whose career is fuelled by his hunger for more major titles, is how well he will be able to play golf given the emotional roller-coaster ride he has experienced over the last four months.

He has frequently said he never tees off at a tournament unless he firmly believes he is capable of winning that week and pundits can only guess at the mental strain he has been under while he desperately tries to repair his marriage.

At PGATour.com, they're serving up some borderline comedic fantasies:

5. COMPETING STORYLINE -- Tiger's return obviously is a huge story. On other weeks, it would likely overshadow everything else. But at Augusta National, the Tiger storyline will be competing with the competition storyline that results from the season's first major. Whether it actually happens or not, the Masters at least offers the potential for Tiger's comeback to be just "a story" instead of "the story."

6. POTENTIAL STORYBOOK FINISH -- What's the best way for Tiger to encourage his fans and sponsors to move past the off-course developments of the previous four months and shift their focus to what's happening on the course? Win a tournament, of course. And what's the best way to generate the fastest and biggest shift? Win a major, of course. Should Tiger emerge victorious on April 11 at Augusta National, he'd get a huge booster shot in terms of moving on with his life -- and the water cooler talk once again will be about Tiger's golf game.

Speaking of the delusional, how about the bookmakers:

British bookmakers William Hill has installed Tiger Woods as a 4-1 favorite to win the Masters and gave him 25-1 odds of completing a 2010 Grand Slam by winning all four major golf titles.

Woods announced on Tuesday that he would return from a layoff of nearly five months after a sex scandal, and the tabloid frenzy that followed, at the year's first major starting on the eighth of April at Augusta National Golf Club.

William Hill made Woods a 4-1 favorite to capture the Masters even without playing a tuneup event, followed by fellow American Phil Mickelson at 6-1 and Irishman Padraig Harrington at 16-1.

And finally, an unbylined CBSNews.com story writes:

Steve Sands, the hose of "Golf Central" on the Golf Network told CBS News anchor Katie Couric that if Woods acts nicely off the course and wins big, he'll be able to win back his corporate sponsors.

"If Tiger comes back, minds his Ps and Qs, smiles a little bit, acts nicely, signs autographs … and plays at a high level and wins, I don't think there's anything the American public can do and the media can do but talk about his golf," Sands said.

Steve, if it's any consolation I don't think you're a hose.

Here's Steve's interview with Katie Couric: