Blender 2.5 has been slowly progressing, as more developers start focusing on bug fixing, and well rounding, instead of Sintel (which has enjoy lots of success). Blender 2.55 beta was released on November 4th, and continues to build on Blender's ever growing series of betas. Despite the seemingly never ending cycle, progress is being made. Hundreds of bug fixes have been made, in fact during the last month more than 300 bugs reports were closed. However there are still bugs in the program, and so about the same number have bugs have been reported. Still if you check out Letwory Interactive, which publishes status updates on the development of Blender, it would appear that we are starting to close more bugs then are being reported. According to the developers, we could be expecting the final release somewhere in the next three to five months.
Also having to do with Blender development is a cool post made over at BlenderGuru.
Andrew Price recently made an almost hour long presentation at the Blender Conference 2010, and now he has posted it as a video on the web. He also summed it up, for all of us who don't like watching 50 minute-long videos on the internet, as a series of photographs and short summaries on the same page. It is a very interesting summary of what Blender could do better, especially on it's website, as well as cointaing a gold mine of statistics about the Blender community. During the presentation he finally released the results of a large survey that he took a couple months ago, which was very interesting to look at.
So Blender development is continuing, and we are all looking forward to the great Blender 2.6 release, however if you want to start warming to it now, go download the latest Blender beta, and also feel free to help out Blender development by submitting more bug reports at Blender Projects (you will need to make an account there first though).