Well the IEEE Task Group for 802.11ac has been making good progress, and has recently announced that they hope to have a draft completed by 2011 and products supporting the draft standard by 2012.
The new 802.11ac standard is the next upcoming WiFi protocol that will support speeds up to 1Gig speeds. From what I can decipher so far, it appears to be achieving the high throughput utilizing 256-QAM encoding, and a combination of 80Mhz[+80Mhz] and 160Mhz channels (and still supporting down to 20Mhz channels) formed out of the 5Ghz spectrum with MU-MIMO (multiple user - multiple in multiple out) stream/antenna usage.
Keep up to date on the matter via the IEEE webpage for TGac:
And if you really want to read up on the technical details, here is the latest TG MS Word document: