We've waited long enough for Java 7. Let's get that one out then look at the options. Fork Java, put the effort behind another language, like Go or Scala, or simply let Oracle run with it.
http://www.scala-lang.org/node/168
Yes, I am aware of the problems of this, too. * Not as stable as the Java backend ever was * Any code that used Java libraries explicitly needs to be rewritten * Stallman is going to throw a hissy fit about it being .NET