Okay, fine, so not really "tomorrow"...
First note: the MkLinux floppy driver is extraordinarily, painfully slow. Put in a floppy, and it takes 1-2 minutes to show up on the desktop, with the whole system slow as molasses while you wait. This is on a 300 MHz beige G3 with 192 MB RAM.
On 10.2, with the 10.2 version of the driver, 800k disks mount just fine, though. (As do 1.4 MB disks, rather obviously.) Once the disk has mounted, it reads and writes slowly, but not unacceptably so. (Much slower than a USB floppy drive, but not as slow as you would expect based on the slow mount time.)
Disk Utility will format either format (800k or 1.4 MB) as Mac or PC. You can choose to format it as Mac OS Extended (the default, which is horribly incorrect for floppies,) Mac OS Standard (the right one,) MS-DOS, or UNIX. The goofy thing is that if you take what had been an 800k Mac disk, and format it as MS-DOS, it makes an 800k (not 720k) DOS disk! (Which won't work in any PC, and won't even work on another Mac running a Classic OS with PC Exchange, or on a USB floppy drive on another OS X machine, even though the same machine will read a properly formatted 720k DOS disk.) And formatting takes just shy of forever.
It reads and writes to 800k Mac and 1.4 MB Mac disks just fine, as well as 720k and 1440k PC disks.
Note again that this driver *ONLY* works in 10.1 or 10.2. (Separate downloads for each.)
In general, it is faster for me to reboot into Mac OS 9, do whatever I need done on the disk, and reboot back into Jaguar, than it is to try to do anything useful with it in Jaguar. (This does not apply to simply moving a file on or off, although see the next point.)
Finally, ejecting is problematic. I have yet to get it to eject a disk properly from the Finder; although it will eject from Disk Utility. If you eject from the Finder, the icon goes away, but the disk never pops out. And when that happens, you're out of luck, it won't even appear in Disk Utility any more. After that, my only recourse was to reboot into OS 9 to eject it; as even on a reboot, it didn't mount again in OS X.
(I spent over an hour determining the above, it's that slow. The vast majority of the time was spent waiting for Disk Utility, with no actual disk activity happening. Some operations would lock up DU for up to 5 minutes before it became responsive again. Formating locked up DU for 3 minutes before it even started the actual process of formatting, followed by a similar stretch after formatting.)
P.S. In testing the readability of formatting, I discovered that the Windows Vista GUI is incapable of formatting a 720k floppy. You have to use the command line "format a: /f:720" to get it to format a 720k floppy. Of course, I'm also annoyed that the motherboard I have for my Vista machine doesn't support 5.25" floppy drives...