The first alpha release of Oneiric Ocelot is out and ready for testing.
The release cycle is still early but this time, expect a lot of breakage due to the transition to Gnome 3. It's already well underway. With the move to the new Gnome 3, basically everything needs to be updated to make use of the new components. That means you can expect a lot of things to not work properly yet (themes, indicators, etc).
We're also not on kernel 3.0. At least not yet. Sadly, that also means you can expect the power consumption to still not be fixed at this point.
Oneiric turns out to be a rather huge transition before the LTS coming after.