Britney/K-Fed: Rhymes with Mettlement

Britney Spears and Kevin Federline have settled their child custody case ... finally. Sources say K-Fed plans to show in court today but Brit will not.

Sources tell us the two have agreed to a custody arrangement that will give Brit more custody with their two kids by year's end. Currently, she sees Sean Preston and Jayden James three days a week with one overnight.

The settlement is a huge development because next month's trial is now kaput. We're told Brit, grandpa Jamie and K-Fed all wanted to avoid the expense, emotional wear and tear and media frenzy connected with a full-blown trial.

Interesting, we think -- Disso-queen Laura Wasser, who repped Brit from the get-go and was able to retain 50/50 custody even when her client was melting down, has been back on the case for only a month and the Brit ship is back afloat.

On K-Fed's side, his lawyer, Mark Vincent Kaplan, was able to turn one of the most reviled guys in the U.S. of A. into Daddy Dearest and win him primary custody. The lawyers will be in court Friday to present the deal to Commish Scott Gordon for his approval.