Yes, Fedora 12, Constantine has been released. This release is focused on reinforcing stability, as well as making the desktop easier for new users. I’m hosting a release party on IRC, #Main on theoks.net.
You can read the new features in Fedora 12 on this wiki page: https://fedoraproject.org/wiki/Releases/12/FeatureList
Fedora 11 is being released tomorrow. Unfortunately, I can’t host a party. I would if I could. There are a host of new features in Fedora 11, such as fingerprint login, new versions of all the desktop environments, the Windows cross-compiler and a new version of X.org.
Download Fedora 11 when it releases at fedoraproject.org