The W3C recently held a meeting to discuss EOT and a proposal to establish a Fonts Working Group. You can view the minutes of the meeting here: http://www.w3.org/Fonts/Misc/minutes-2008-10

The meeting had representatives from developers of fonts and web browsers, and they discussed the proposal for EOT as well as an alternative proposal for a web fonts solution. We hope this leads to a formation of a Fonts Working Group, and that this group can find a solution that meets the needs of type designers and font vendors.