The Linux 3.0-rc7 kernel was released this afternoon due to there still being "enough new stuff" that was committed in the past week, which largely comes down to driver regression fixes and other bug-fixes within the kernel. There's also some still outstanding RCU problems.
The release announcement for the Linux 3.0-rc7 kernel can be read on LKML.org.
The Linux 3.0 kernel has a lot of new features, among which is file-system CleanCache support, many open-source graphics driver improvements, full Xen support, and much more. Look for the 3.0 kernel to be officially released within the next week or so.