I'm told by someone familiar with the UP Aerospace team that White Sands Missile Range tracked both the booster and the payload section of the SpaceLoft XL well past apogee. The parachutes worked and it came down where it was predicted to land. A helicopter will be available on Monday to go pick it up. Everyone involved is quite pleased with the mission. They have "lots of flights booked going forward".
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See this BBC page for a video of the launch: Scotty finally sent to the stars - BBC - Apr.28.07
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So why is this a big deal? Suborbital rockets have been launched at WSMR and elsewhere since the 1940s. This flight is significant because of the business model, not the altitude attained. The vehicle was designed to serve a consumer market rather than to carry out a task for the military or some other government entity. To do this profitably, the vehicle must be built for as low a cost as possible and must be cheap to fly. Spaceflight for the general public is new to the rocket world.

Bristol Aerospace could certainly provide a Black Brant to carry a similar payload to 117km. I doubt, though, that they could do it for a similar price and make any money from it.

My guess is that UP Aerospace and other small companies planning to launch payloads to suborbital altitudes at very low cost for the education, science, space burial, and collectibles markets are going to do quite well. Maybe these won't be huge markets (space burial just might be though), they should be big enough to sustain several such companies.