PHP 5.3 On The Way

PHP Team is now working on PHP 5.3 which will bring lots of changes as well as bug fixes. It's now in Alpha phase, as it contains huge amount of new changes that need thorough test first before they become an RC or even Beta version. Here's some documentation you might want to see before the final 5.3 comes out:
- Upgrade Notes
- Release Notes (Windows)

Here's some overview on what will the next PHP 5.x contains:

• Namespaces (documentation maybe out dated)
• Late static binding and __callStatic
• Lambda functions and closures
• Addition of the intl, phar (phar is scheduled for some more work a head of alpha2), fileinfo and sqlite3 extensions
• Optional cyclic garbage collection
• Optional support for the MySQLnd replacement driver for libmysql
• Windows older than Windows 2000 (Windows 98, NT4, etc.) are not supported anymore (details)
• New syntax features like NOWDOC, limited GOTO, ternary short cut "?:"

The final version is expected to be released between mid September and mid October of 2008.

Make sure you download the updated documentation (the latest one at the time i write this post is dated 1 August 2008). More updates will became available when the final version is getting near the release date.