No dude, inflation was not yet backed by observational evidence. It's a particular picture of the big bang. Plus, observing gravity waves is a big deal. If this is confirmed, it's the biggest deal in physics this year, easy, and should rate high in the century's discoveries.

Shill time. Read this article:
http://www.54evil.com/discussion/824/purported-observations-of -gravitational-waves-support-inflationary-model-of-big-bang

Great, like inflation fetishists need this kind of legitimacy.

I think the indication is that the universe for a brief moment expanded far faster than speed of light would have allowed, making it likely that it is bigger than previous estimations would have suggested. But don't take my word for it I am just an ordinary tough bouncer.

It's like saying you have a big cock and that's all fine and shit, but it's when you take out an envelope that you are finally vindicated.