The numbers are constantly changing based on several factors, one of which is that we don't really know how big the MIlky Way is! A recent estimates puts the MW at 400 billion stars. Extrapolated from this, the number of terrestrial planets was pegged at 100-120 BILLION by Marcy. The total number of planets would obviously be much higher, perhaps in the 300-400 billion range, or more.
Obviously, not every star can support a planetary system. The scenarios that Jeff painted, 1st generation stars in metal/silicate poor regions, close binaries. Then again, we could assume, (via ye old Copernican Mediocrity Principle) that many systems are like ours with multiple planets--and this has been observed in several instances.
The Kepler mission will be returning some significant data in the 2-4 year range. It should be possible to get some numbers with a lower % or error at that time. For now, it seems that we can only assume that planets are a normal part of our galaxy, which bodes well/better for terrestrials, habitable zones, and life itself.
The next ten years will bring us gigantic terrestrial scopes and very sophisticated programs for observing stars/planets and even planetary atmospheres. Along with Kepler, the Webb scope, and maybe the Terrestrial Planet Finder or some derivitive, I think that we are currently living in the most exciting decade since Galileo first raised his telescope...
The momentous discoveries are out there, and we are SO close to answers. Exciting times to be an amateur astronomer!