"We’ve done a lot to improve Direct Messages over the past year and have much more exciting work on the horizon. One change coming in July that we want to make you aware of now (and first!) is the removal of the 140 character limit in Direct Messages. In order to make this change as seamless as possible for you we’ve included some recommendations below to ensure all your applications and services can handle these longer format messages before we flip the switch."
While we still won't see tweets longer 140 characters, Twitter users will be able to hold private conversations without limits, which seems like a smart move. The fact that nobody but the folks involved in the direct messages will see longer posts shouldn't stir up too much trouble.
Just like Facebook and others out there, Twitter is a social network, meaning it's a place where people can connect. Private conversations can be great, but when some folks we connect with are only on Twitter, holding a conversation with only 140 characters per message just isn't enough.