Work on the X Server 1.7.4 point release is finishing up and as a result Peter Hutterer has tagged the second release candidate, which may very well be the last test release before it goes gold. X Server 1.7.4 RC2 back-ports a number of fixes from X Server 1.8, switches the default keyboard layout to pc105 (from pc104), man-page fixes/updates, and miscellaneous other work.
The X Server 1.7.4 Release Candidate 2 announcement can be found on the X.Org mailing list
. X Server 1.7.4 should be out within the next week or two. Meanwhile, the next major release, X Server 1.8
, should be out by the end of March.