Bridgman shared that the R600/700 Mesa code will ultimately be merged into the Radeon Rewrite driver, which in turn will be merged into the mainline Mesa code-base in the near future. He also adds that the intellectual property review on this code had started a while ago, but they are nearing completion.
The code to be pushed out soon will allow for OpenGL 3D acceleration with ATI Radeon HD 2000, 3000, and 4000 series graphics cards, but it's still not in a finished state yet and there is still work left in even bringing it up to the same level of support as the ATI R300/400/500 driver. After that has been accomplished, attention will finally turn to creating a viable ATI driver with the Gallium3D architecture.
It shall be an exciting few months ahead.