First off, the GIMP development team are now in the final stages of developing the next stable release of GIMP – version 2.8. Enhancements include “layer groups, improved brush dynamics, a new unique transformation tool, optional single-window mode and more”.
According to the notice, the focus of development after the release of v2.8 will shift to deep integration of GEGL – the new non-destructive image processing core. Non-destructive image editing is one of the areas where GIMP lags behind Photoshop. This thrust will “enable many features considered critical for use of GIMP in (a) professional environment.

v1 Logo by Jens Lautenbacher
GIMP started life as a semester project at University of California, Berkeley in 1995 and was first released to the public in 1996. The current stable release is v2.6 which was released in 2008. The latest bugfix is v2.6.11 dated Oct 2010.
Tags: GIMP, image editor, photo editor