I heard they are having record drought this year in Southern California... How is this going to affect the water supplies on the PCT.. Thinking about attempting a thu hike in 08.....

It varies from year to year. There are a few year round sources, some seasonal sources and water caches left by trail angels. The PCT databook list "water alerts" areas of trail where natural sources are 12 miles or more

Here's a page that's updated every year...

www.4jeffrey.net/pctwater