The verdict is going to be read at 6:15 ET.
Homes definitely committed the act, but has claimed insanity. Insanity requires more than just being crazy: depending on the state rule, it basically requires a showing that he was so incapacitated by his mental illness that he could not tell right from wrong. The planning that went into the shooting may suggest stronger cognitive function. There is no doubt that he committed the acts, and the brutal nature make him extremely unsympathetic. He faces the death penalty if convicted.
Update: Holmes found guilty as charged of all counts. He now faces a possible death penalty.