Google Analytics has announced a new A/B testing feature called Content Best Experiments. This is a pretty significant evolutionary step for Google Analytics in making it an analytics and optimization tool. Think of this as Google Website Optimizer being baked right into the Google Analytics interface. Using Content Experiments in lieu of GWO will allow you to easily define content URLs and goals for your experiments, analyze your reports more efficiently and will eliminate the need for all those extra GWO tracking codes on your site.
You can access Content Experiments by logging into your Google Analytics account, opening the profile you want to run an experiment in and click the Standard Reporting tab. In the left menu click Content, then Experiments, then start experimenting!
The Google documentation for Content Experiments is pretty thorough so I don’t want to duplicate the info here, but I want to briefly describe the Content Experiment process and provide some additional commentary.