I guess it was an unintended vacation. We've been busy here in the Reporting Services team. CTP5 of SQL Server 2008 was a large milestone for us as it really started to put together all of the work we have been doing to make the processing engine more scalable as well as nail down some of the hard issues with our new native hosting layer. I know you can't get your hands on it quite yet, but for the most part the major development work has been completed except for the setup and upgrade bits.
Speaking of our native hosting layer, James Wu has just started a blog. James did a lot (all?) of the initial prototyping work for our new native hosting infrastructure including integration with SQLOS and other technologies from the SQL Engine team. Hopefully over the coming months James will provide a good bit of information about the native hosting layer and its impact on users, and maybe even a good story or two about the development process.