I thought he said, they will freeze the 0.85 api now(ish), release a 0.90 (aka 1.0 beta) pretty soon, followed by an 0.9x release candidate a few months later and a 1.0 around late 2012/ early 2013, despite the slides stating otherwise.
After announcing support for nesting X11 servers within Wayland (addressing legacy / network transparency), the Linux desktop should be *running*, not walking, to Wayland. I've been watching the discussions, the news, the events, and I think this really has a shot to cleanup our awfully heavy graphics stack.
I really hope for binary support from NVIDIA on this... you guys watching?
NVIDIA will start publishing drivers for Wayland when their large customers -- by which I mean tens of thousands of NVIDIA/Linux deployments -- tell them it's what they need. Until then, they really don't care.