Most sources are saying it will be nowhere near as damaging as the 1980 eruption, but is still very exciting! The ash will be a problem though as it can really damage the salmon/steelhead fisheries in the vicinity.Earthquakes of magnitude 2 to 2.5 were happening four times a minute, possibly weakening the lava dome in the crater of the 8,364-foot mountain, the U.S. Geological Survey said.
It would be cool to see it blow on a clear day--you can see the mountain from higher elevations even from as far south as Salem.
EDIT:
Here is the link for VOLCANO CAM!
http://www.fs.fed.us/gpnf/volcanocams/msh/