Pocket-Lint reports that Firefox 3.5 is coming out at the end of this month. There is also a release candidate out now (here) that is supposed to be pretty close to what you can expect from the final product. The new features total over 5,000, Mozilla claims. The biggest among them include video built in, local storage for offline web apps, private browsing (dubbed "porn mode" by some), geolocation functionality, the previously-reported "About:me" page and improved performance.
Mozilla's also talking about what's going to happen after 3.5. The successor, codenamed "Namoroka" is planned to include Chrome's process isolation features (so if one tab dies, your whole browser doesn't crash) and a 64-bit version of Firefox for OSX.