Yep, because tomorrow all our compasses are just going to point the wrong way, just like that!!!!
Besides, I was trying to be humorous and point the fact out that 'we' probably won't be around because we will have killed each other off before we see it flip.
Point 1: Yes, it is actually possible, and will eventually happen. Don't worry, mass chaos and destruction won't be apart of the event. Birds might go a bit nuts and compasses will need corrected, but in the age of GPS, it won't be a disaster.
Point 2: I'm still saying we'll be alive and kicking. I don't trust our ability to survive the long haul, but I don't suspect we'll be dead in a thousand years either.
Also, there's already been evidence that the field is growing unstable and a flip is "imminent" - instability may last a long while with local pockets of reverse polarity, but the "big flip" would likely be quick. It will probably wobble back and forth in polarity, that much isn't known for certain, but it seems routine. For human lifespan references, it might flip for a thousand years, flip back for another five thousand years, and then once again flip back to a reversal of today's polarity and maintain that for a five hundred thousand years.
Relevant image:
Edit: actually, reversals can be harmful. :hmm:
Contrary to that image, which depicts a perfect geomagnetic polarity lasting for over 750,000 years, there is one "major" event to report. A reversal occurred a little over 40,000 years ago, which was around 500 years in length with an actual reversed geomagnetic field lasting about 250 years.
http://en.wikipedia.org/wiki/Laschamp_event
It suggests field strength during the transitional times was roughly 5% of the current strength. That is certainly not a good thing for living things. If it were to coincide with nasty solar storms, yuck. Especially in this age of sensitive electronics.