HP has finally decided what it's going to do with webOS: the software will be made available under an open source license. This likely signals the ultimate end of webOS as a significant commercial venture for HP, although we pretty much got the hint earlier in the year. HP is soliciting developer input to help define the charter of the project here.
I had personally given up on webOS a while ago. The platform really had a lot of potential but HP was both the right and wrong company to take it to the next level. The best we can hope for is that some of the innovations in webOS will get incorporated into other competing OSes and in turn, make them better. I'd like to see webOS stand on its own as another platform, but I do believe the time for that has passed.