The expected timetable as of November 2006:

 [X] First Working Draft in October 2007.
 [ ] Last Call Working Draft in October 2009.
 [ ] Call for contributions for the test suite in 2011.
 [ ] Candidate Recommendation in 2012.
 [ ] First draft of test suite in 2012.
 [ ] Second draft of test suite in 2015.
 [ ] Final version of test suite in 2019.
 [ ] Reissued Last Call Working Draft in 2020.
 [ ] Two complete and bug-free implementations in 2022.

 -- http://lists.w3.org/Archives/Public/www-archive/2006Nov/0045.html