GNOME 2.16 is now out.
From the shots they've got it looks ok, they've tryed to tart up the looks a bit (although I'm pretty happy with what we have now) as well as changing a few other things - you can check it out at http://www.gnome.org/
It should be coming to fedora over the next few months... I'm not sure how long it'll take though. On the GNOME page they said over the next couple of months they expect it to be rolled out.