There were five point releases planned for X Server 1.7, but a sixth came about that fixed the RECORD extension, and now a seventh is also emerging. X.Org Server 1.7.7 brings a few fixes to XQuartz, DIX, KDrive, and other areas. Nothing really exciting though is contained within the xorg-server 1.7.7. change-log.
Peter has just announced the release candidate for X.Org Server 1.7.7 on the Xorg mailing list. This is the only planned test build before releasing the final version at some point in the near future.
The X Server 1.8 point releases will too be maintained by Peter and handled in the same way as he has done with the 1.7 series. Meanwhile, all new development efforts for X.Org have been going into X Server 1.9, which is scheduled to be released in August.