Red Hat Enterprise Linux version 5, at long last, was released today. This release is based roughly on Fedora Core 6, which is a huge update from RHEL v4 (which was based off of FC3). I look forward to installing CentOS 5 when it is released in about two weeks.
One other thing worth noting — The Fedora Project recently started Extra Packages for Enterprise Linux (EPEL) which looks to add a new repository for RHEL/CentOS/etc users who are looking for packages that are not included with RHEL but are available in Fedora. This will bridge a gap between Fedora and RHEL.
Good job, Red Hat!