Blender 2.59, the final release in the 2.5x series, has been put up on the Blender website. There was some last minute hassles that popped up behind the scenes as you might have seen if you subscribe to bf-commiters, the development mailing list. This was mostly due to the fact that a number of Blender developers were away at the SIGGRAPH conference. However despite this inconvenience and a number of last minute bugs that were found, Campbell Barton and the rest of the crew made it through and release version 2.59, definitely the best version of Blender yet!
Now the focus turns to Blender 2.6x, starting with 2.60, where many branches which have not been combined with Blender will be. The official list of branches about to be merged is on the Blender Wiki here, however I'm sure that those won't be the only goodies added to Blender 2.6. On Blenderartists there is already mention of all of Nicholas Bishops work, which hasn't been listed on the Blender Wiki. Besides that there is also the 8 branches from GSOC this year. Need I even mention the fact the Bmesh will (hopefully) finally be integrated!
Exciting times ahead for Blender.