We'll call this 5.0, not 4.7, because internationalization is such a large change.
We are looking at a September release. Now that Collaboraid is home from holiday we should be able to get a better idea as to when 4.6.4 and 5.0 can be released, as they're the primary movers for both at the moment (I'm working steadily on 5.0, too, but the internationalization stuff is mostly Collaboraid's responsibility)
Current CVS is stable enough to investigate but I wouldn't deploy with it yet.
