Microsoft is still committed to releasing Vista to manufacturing this autumn, in order to allow volume licensed customers to obtain code by November.
We released the July Customer Technology Preview (CTP) this Monday (build 5472). The new build does not include any major changes to the Vista feature set or user interface. It consists primarily of bug fixes; tweaks to the User Account Control functionality to make it "less chatty"; and stability/performance improvements, especially around Media Center. Microsoft is promising it will release another public beta in the form of Release Candidate 1 (RC1) some time later in the third calendar quarter of this year (hopefully August). RC1 will be as broadly distributed as Beta 2 was.