According to many industry analysts and rumours posted to our Forums the Feb CTP is due today.
With a build tag expected to be 5308.x86fre.winmain_idx01.060217-2200 the CTP is likely to be near feature complete.
Microsoft yesterday invited press to a conference call at 6:30pm GMT today to talk about the Windows Vista development process. It's expected that shortly after the conference Microsoft will announce the availability of the February CTP.
Microsoft is targetting a release this year and it's widely expected to be an event that will co-inside with the 5 years that have passed since Windows XP was released. Although the company has not confirmed this officially, the next CTP is expected to be released in April.