Newly available, WordPress 1.2.2. This is mainly a security and bugfix release. Some users have taken us to task for taking so long to get this release out. But as Matt said, there were several issues being worked on simultaneously, and it seemed more efficient in the long run to roll them all into one release, rather than forcing users to do multiple back-to-back upgrades. Download from the usual location.
Of course, upgrades will be even more painless than ever in the WP 1.3 release. Have I mentioned before that the new theme system rocks?