In this message Adam mentioned he wanted to have a last look at the bug list and address anything that looks terrifying or trivial and then make a few last technical changes. Permitting there isn't a big push by many developers to clear out the blocker bugs, we're looking at just short of three dozen blocker bugs being left open before X.Org 7.4. Due to glcore changes, Mesa 7.1 will be a requirement for X.Org 7.4 / X Server 1.5.0. Before X.Org 7.4 is declared, Adam (and any volunteers) will be running through the drivers one last time and the evdev-input 2.0 driver will also be released.
Once X.Org 7.4 is out the door, planning begins for X.Org 7.5 / X Server 1.6.0 (more Phoronix coverage at that time).