It seems to me as though the NHC is a little more hesitant to upgrade waves to depressions in the E. Pacific as compared to the Atlantic. Maybe it's the lack of recon flights, maybe it's apathy, I'm not sure -- but it does seem like it takes a bit more organization to get something in the E. Pacific. I don't have any hard stats to back this up, but it seems to me (from memory) that almost all E. Pacific depressions ultimately become tropical storms, whereas this is not the case in the Atlantic.

In the NHC's favor, it seems as though what obs. they do have do not support depression status for many of those features, whether QuikScat winds & wind speeds or satellite intensity estimates. This one should get the upgrade soon enough and ultimately become a tropical storm and possibly hurricane, but I think you can easily make a case for something as of 5a this morning.

There's another one behind it, too, that has a shot over the next 3-5 days...assuming this one doesn't become large and inhibit the other's development due to excessive outflow/shear. It seems like E. Pacific activity comes and goes in spurts, but this one is getting on up there.