  The physical consequences of the spin-triplet, even-parity pairing that has
been predicted to exist in disordered two-dimensional electron systems are
considered in detail. We show that the presence of an attractive interaction in
the particle-particle spin-triplet channel leads to an instability of the
normal metal that competes with the localizing effects of the disorder. The
instability is characterized by a diverging length scale, and has all of the
characteristics of a continuous phase transition. The transition and the
properties of the ordered phase are studied in mean-field theory, and by taking
into account Gaussian fluctuations. We find that the ordered phase is indeed a
superconductor with an ordinary Meissner effect and a free energy that is lower
than that of the normal metal. Various technical points that have given rise to
confusion in connection with this and other manifestations of odd-gap
superconductivity are also discussed.
