I'm back from a lovely vacation visiting family in England and the team have just made beta 3 of IE7 available. http://www.microsoft.com/windows/ie
There's still work to do. We'd be releasing it if there wasn't! But I think this is really shaping up to be a great release.
As always keep the feedback coming. See http://www.microsoft.com/windows/ie/support/default.mspx for the official feedback and bug reporting mechanisms.