There's been no formal communication about what Oracle intends to do with the opensolaris community + codebase. Leaked mails, news from friends within and from vendors did give a number of us insights into what's happening around.
If one were to go by the leaked email then the distro is dead and the mercurial repo will get some code pushed to it (under the CDDL license) only after Solaris 11 is release.
Circumstances may change in the future, and Oracle may push through nothing at all.
Rather than whine about source being closed, or Oracle reneging on promises made in Feb, I'd rather thank Sun for releasing the excellent code to the world, and congratulate them on putting together an engineering team that created such amazing functionality !
Thank you, Sun, and thank you, all you Sun engineers who created such wonderful work.
I just cannot use a Linux based distro full time ever again.