Below is the link to the craftbukkit Google spreadsheet where they keep a log of their update progress.
https://docs.google.com/spreadsheet/lv?hl=en_US&key=0AjHYJuqMjzkndHJfX3BwdkdVdnJLTERyLWNGMy1fLVE&toomany=true#gid=0
So everyone knows when the server update will be available!

It's 97% done already? does that mean it will be done soon?

Within the day :'P

Well they've had the pre-release to guide them for the final update, so they've probably been working on it since last friday.

5 More minutes

Lol, just because Bukkit is going to be updated soon doesn't mean we can move back to the original map. We will have to wait until the plugin developers update their plugins, such as Essentials, WG and WE, MyWarp, and the other "core" plugins we use to properly control the server. So I'd say you might have to wait another few days, especially for WE and WG, as sk89q has been quite busy lately.

-MastaC

We could go ahead an open the 1.8 map. Give it guest world rules and don't build within x1, z1 and x2, y2 of spawn or your stuff will be mowed down by new spawn.

LIES. xD