With a Git commit made today after tagging the 1.7.0 release, QEMU 2.0 is now open for development. This commit was made by Anthony Liguor of Amazon.
QEMU 2.0 will be the next major release of the emulator commonly used with KVM for Linux virtualization/emulation. For those curious about QEMU 2.0 features, see this recent (PDF) presentation from the CloudOpen event that covers QEMU's future.
Among the predictions for features in the future include overhauling the command-line interface, the GTK GUI being expanded for desktop usage, the storage layer having RAID and relying less on the Linux kernel, and better solving backwards compatibility issues.
Stay tuned for the QEMU 1.7.0 release announcement. It's also overdue at Phoronix for a fresh round of Linux virtualization benchmarks looking at the performance and other features.