The 0.7 version of the standard client is slowly looming, but has not yet been released. Some websites, such as the Testnet Faucet appear to be using that version already. However, not wanting to use a beta release, I'm wondering when the full 0.7 version of the standard client is scheduled to be released?
When it is ready. There is no "schedule" and no set release date made in advance.
Once a release candidate is out, generally the only changes are "showstopper" bug fixes.
Each release candidate needs to be tested. Only if testing occurs and no showstoppers are identified does the last RC become tagged as the final release.
Here's some steps that happen during building the release candidates:
For information's sake - Version 0.7 was released on 18th of September 2012 - http://bitcoin.org/releases/2012/09/17/v0.7.0.html