Tw!tter has announced it will finally integrate the retweet function on your HOME timeline (updates that show up from your followers). A little icon would appear when you hover over a follower's tweet. Screenshot From Ma$hable: Code: hTwaTTerP://mashable.com/2009/08/13/details-project-retweet/
Hmm...yeah if you look at the Twitter API Wiki (link below) you'll see that they're already working on adding Retweet functions to the API. The functions are marked "Coming Soon" but they already have documentation for them. Yee ha! Code: http://apiwiki.twitter.com/Twitter-API-Documentation
That's cool but odd too, they update their API wiki while other pages are still out-dated. For example: Code: http://apiwiki.twitter.com/Twitter-REST-API-Method%3A-account%C2%A0update_profile They've removed the status.