Significant changes will occur in the GIL for Python 3.2. Take a look at the What's New for Python 3.2, and the thread that initiated it in the mailing list.
While the changes don't signify the end of the GIL, they herald potentially enormous performance gains.
Update0
- The general performance gains with the new GIL in 3.2 by Antoine Pitrou were negligible, and instead focused on improving contention issues that arise in certain corner cases.
- An admirable effort by David Beazley was made to implement a scheduler to significantly improve performance when CPU and IO bound threads are mixed, which was unfortunately shot down.
- The Unladen Swallow work was proposed for merging in Python 3.3, but this has been withdrawn due to lack of results in that project. PyPy is now the preferred project and is currently requesting funding to add Python3k support. There's very little chance that PyPy will become the default at present.
Efforts have been made for the last 15 years to remove the GIL from CPython but for the foreseeable future it is here to stay.