Gung hay fat choy is a New Year greeting meaning, "May you become prosperous."
Today is Chinese New Year (technically yesterday was in my timezone because of the position of the moon). The Chinese used to go by a lunar/solar calendar mix and by that calendar today is the first day of the year of the rat. A good site for more info on Chinese New Year is this one: http://www.chinesefortunecalendar.com/2008.htm
I'm not doing anything today for Chinese New Years since there is not many Chinese New Years events in the area I live in. I will be going to a Chinese Restaurant Saturday that is having a lion dance though. There were more events for Chinese New Years last year than this year. Last year I went to 3 separate celebrations which included traditional Asian dances, music, food, and costumes. As far as I know the only thing this year is a few restaurants having a Lion Dance.