The next Testing Core Team IRC meeting has not been scheduled, but I expect it to Jan. 31, 2011 if M6 is released next week.
A number of problems still need to be fixed before M6 can be released. Stephan Kulow lists them as:
blocking issues (for M6): - /etc/mtab still is not right (broken by yast during installation bnc#665437) - Artwork is a bad mixture and this is the last milestone (bnc#665439) - kernel on i586 still acting up (bnc#660464)
minor issues (for M6): - the progress bar of the live cd is not moving between 16-92% (bnc#665413) - the live cd does not boot into the kernel (kexec broken?) - the kde live cd runs slowly