Gutsy is approaching the beta release and the Ubuntu compiz team feels like our packages from the 0.6.0 upstream branch are in good shape for it! We spend a couple of days in London last week to work on high priority problems and got a great deal of work done. A big kudos to the wonderful compiz-fusion upstream community that was a great help (both the people who attended the sprint directly and the ones who supported us via irc).
Travis mentioned some of the fixes already in his post. There are a lot more, for example Mirco improved the look and feel of the gnome-apperance-capplet that lets users switch between compiz and metacity. It looks really good now. We also fixed some annoying session management problems that caused hangs on startup and we switch to use the compiz-manager script for starting compiz. This is a big improvement over our self-made wrapper script. All the details can be found in the package changelogs for those you want to see all the details 🙂
Judging from the bug reports we get, we feel we are in good shape for beta. But not everybody reports bugs so I would like to get a better idea on how well compiz works in the real world. Please fill in https://wiki.ubuntu.com/CompizFeedback if it works or if it does not work for you.