While I maybe A Microsoft MVP in Windows Operating Systems I don’t always know the release dates to a new Windows version or the Service Packs, but this weeks (11/01/2011) Windows updates aka Patch Tuesday included an update (KB976902) to allow other updates to install ok.
This can signify that a major release is due and the only one I know of of late is for Windows 7 and SP1. SP1 has been in beta for a while and I will say I have not had to report any issues at all with the beta on my test PC, so this Service Pack I feel is bomb proof, although it will depend on your PC setup and applications installed as not all PCs update ok.
Microsoft does have a Service Pack blocker HERE for those in business who wish to block this Service Pack until tested on their networks or the home user who wishes to wait a bit to see if there are any issues.
So expect to see Windows 7 SP1 very soon, my guess March-ish time.