PyPy has come a long way. It's gone from being purely a research project to providing a flexible and reasonabl y fast Python Interpreter, itself implemented in Python. Although PyPy is not yet a viable CPython replacement, PyPy is able to run sophisticated py thon applications like Django and Twisted. In this talk, we'll focus on im provements that happened during the last year in PyPy. This talk will also explain the motivations driving current PyPy developement and its targets f or the future.