Good lord, they did it!
New York City, March 22, 2010.
The Impossible Project started in October 2008 at the last preserved Polaroid plant in Enschede (The Netherlands) with the aim to save anlog Instant Photography from extinction; today it presented its significant result. After 17 months of research and development, The Impossible Project announced that it succeeded in its task of re-producing a new analog Instant Film for traditional Polaroid cameras. Containing more than 30 newly developed components, Impossible today introduced a new, monochrome Instant Film - the PX 100 and PX 600 Silver Shade
Ok, it's only b&w for now (and it seems I was late to the party), but this is an exciting development.