For those that are not yet migrating to X.Org Server 1.8 with its xorg.conf.d support, libudev support replacing HAL, and other changes, the 1.7.7 release should be out soon. Peter released a X Server 1.7.7 release candidate earlier this month, but coming this afternoon is a second and potentially final release candidate.
This second release candidate for the X.Org Server 1.7.7 series drops the XGE extension event to workout a problem experienced by some NVIDIA users that ran out of event opcodes within the X Server. There are also a couple crash fixes and for Mac OS X users there are XQuartz updates.
Peter has also been pushing patches into X.Org Server 1.7.7 that get the X Test Suite working, but at least one more patch is on the way for this, which after that point he will likely be releasing 1.7.7 final. An X.Org Server 1.7.8 release is not planned at this point.
The X.Org Server 1.7.7 RC2 release announcement with its change-log from RC1 can be found on the X.Org mailing list.