We argue based on theoretical considerations and analysis of experimental d
ata that quasiparticle excitations near the nodes determine the low tempera
ture properties in the superconducting state of cuprates. Quantum effects o
f phase fluctuations are shown to be quantitatively important, but thermal
effects are small for T << T-c. An anisotropic superfluid Fermi liquid phen
omenology is presented for the effect of quasiparticle interactions on the
temperature and doping dependence of the low T penetration depth.