They will open up the Bonne Carre spillway and the water will fill Lake Pontchartrain with nutrients and divert the water past New Orleans into the Gulf of Mexico. It is a beautiful thing. Yep, they've already got it open part-way. If need be, they'll open it further to miimize the pressure on the levees.
I generally don't pay any attention to this stuff unless I hear the word "Morganza" on the news. When they start talking about opening the gates up there, that's when river levels are expected to be *really* high.
Looks like it will be high. I used to hunt and fish a lot at the Bonnet Carre. Shot a lot of clay pigeons there as well. Did a bunch of 4 wheeling as well! It was the poor mans Disney world! I loved that place.