Currently there is a [unique chance](https://physics.stackexchange.com/questions/25589/what-is-an-approximation-of-the-average-number-of-supernovae-every-century-in-th) for amateur astronomers to observe a very near [type Ia supernova](http://en.wikipedia.org/wiki/Type_Ia_supernova), named [PTF 11kly](http://en.wikipedia.org/wiki/SN_2011fe).

As [standard candles](https://physics.stackexchange.com/questions/25741/what-objects-states-of-objects-with-absolute-magnitude-do-we-know-of) are very important to measure distances in the universe, can you give a brief overview of how the luminosity of "PTF 11kly" will probably develop according to current star models?

Where do our current models lack accuracy? Is this single supernova so special, that it can fill some gaps in our knowledge?