NASA released more information about the Mars stream bed yesterday:
The rounded shape of some stones in the conglomerate indicates long-distance transport from above the rim, where a channel named Peace Vallis feeds into the alluvial fan. The abundance of channels in the fan between the rim and conglomerate suggests flows continued or repeated over a long time, not just once or for a few years.
They say that it was between ankle and waist-deep.
Mars had continuously-flowing streams of water. There should be a very, very good chance that Mars once had life. It is unbelievably exciting that we’ve discovered evidence of it, and that the Curiosity rover may even discover more direct evidence of life.