For those wanting to live in a stable-and-tested world and forget about all the Mesa advancements that have been talked about on Phoronix in the past five months, Mesa 7.11.1 is now available.
Mesa 7.11.1 just brings bug-fixes since the release of Mesa 7.11 this past summer. Though if you're reading Phoronix, chances are you care about the latest and greatest open-source graphics drivers, in which case Git master is your answer until Mesa 7.12/8.0 gets released in early 2012. These articles
talk about some of the features of the next major Mesa release, in particular there's OpenGL 3.0 support (hopefully complete by then), many Gallium3D state tracker and driver improvements, enhanced Intel Sandy Bridge / Ivy Bridge support, and many other changes.
For those wanting Mesa 7.11.1 today, there's this mailing list message