I'm as excited about the theoretical concept of a space elevator as anyone. But the problem remains that no one can produce a cable even close to strong enough. This article has a good description of the material science problem: http://www.spaceward.org/elevator-when. Basically, we would need to find a material that is at least 10x, probably 25x as strong as any cable today.
Carbon Nanotubes are theoretically strong enough, but no one knows how to manufacture them. The longest carbon nanotube tether that has ever been manufactured is only a few inches long, a millimeter in width, and not particularly strong due to imperfections in the manufacturing process.
Obayashi is planning a 10m cable. Even building a 10m cable made of carbon nanotubes would require a Nobel Prize worthy breakthrough.