I would be remiss if I didn't point you to Jeremy Gold's and Chad Orzel's recounts of last night's collapse. Chad even compares it to the 1995 Maryland comeback against the Heels, which he puts in the Dean Dome, but Charlie Board puts in Cole Field House.
The Washington Post has a good article as well. This game is looking like it means more to Terps fans than their Duke victory earlier this season. it may mean more to them than State's win earlier in the season means to Wolfpack fans.
Update [2007-2-27 16:46:46 by TH]: Chad got the location right but the victims wrong. It was the 1997 team, with Carter and Jamison, that gave up a twenty-two lead, a game I attended and had happily blacked out ever since. Thanks for that, Orzel. Tar Heel Daily has a retrospective on the entire rivalry, including the 2000 snow game that led to a lot of the seating changes in the Dean Dome in recent years.