Yeah you already can register dot com domains in non Latin characters
German, Russian, Chinese, Japanese, Korean in dot com & others in ccTLDs like .de, .jp, .cn
If it's a matter of non English characters that just look like English characters that is a phishing domain & IE7 warns users about this (mixed character sets).
Germany, & China probably has the biggest use up to date.
Google & Yahoo are IDN domain compatible already (in search results, indexing etc.) also most popular PC browsers except IE6 (Firefox, Safari, Opera, IE7).
But the general common use of these domains are still at least 2 years or more away in most markets.
Do your own research on what is right for your sites & projects. Many companies register their domains just to keep competitors from buying them in the future.