There will be a hotfix today to finalize the conversion

Today's downtime converts Rift to a streaming client!  Find the patch notes below:

RIFT Streaming Client - 11:00am PDT 5/9/12 [NA] - 7:00pm BST 9/5/12 [EU]

STREAMING CLIENT

RIFT patching just got a lot easier - introducing Streaming Client for RIFT!

• Streaming Client allows you the option to launch the game from the patcher without having to wait for the full data download to complete. You'll be able to start playing within a few minutes even after a large update, and the game will download the necessary data in the background while you play.
• Streaming Client works best on a 5MBps or better connection. If you have a slower connection, it is recommended that you let the patch complete before attempting to launch the client .
• If players and NPCs around you take a long time to load, or you're not happy with the game experience when streaming, you can close the client and wait for the patch to finish. Launching the client before downloads have completed is optional.
• The first time you launch the updated patcher, there will be a longer initial import process that will convert your existing game files for use with streaming - so you won't have to fully re-download them.
• In-game, a download indicator at the top of the screen will show the current status of your download, time remaining, and whether objects around you may be loading slowly. This indicator will disappear when the client is fully updated.