While
X Server 1.8 should be out later this month, enough bug-fixes have come along since X Server 1.7.5 (the
last scheduled maintenance release) to warrant a new version. Peter Hutterer pushed out the first release candidate for X Server 1.7.6. With X Server 1.7.6 there will be many bug-fixes atop 1.7.5, including this being the first 1.7.x release where the server's RECORD extension is actually working. There's also about a dozen other fixes to the DIX, xselinux, and other areas of the server stack.
The xorg-server 1.7.6 RC1 release announcement can be read on the
mailing list while the final release should be out this month.