atomic mode-setting / page-flipping was last talked about, the short story is that it's still being worked on but it didn't make it for Linux 3.7. The code is still being worked on and is reaching a reasonable state, but isn't quite there yet.
Ville Syrjala begins his latest patch series on the mailing list with "Here's the latest atomic stuff. It's finally starting to look somewhat reasonable."
While Intel has been playing with atomic mode-setting for many months and there's already 51 patches, it's quite a lot of work and there's still a few unfinished TODO items. Hopefully the work will be ready for Linux 3.8.
The atomic work can be found in this Git repository.