UPDATE, February 10, 2008: Looks like a deal may be done, and the Writers are declaring victory. I'm sure everyone's happy, and a formal announcement will be made soon. When that happens, I'll post a new article so you can read about details, etc.
According to a variety of sources, the Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP), which comprises major production companies and studios, may be close to an agreement, which will end the strike.
Apparently, the WGAe (East) and the studios have a tentative agreement on a new deal, and the WGAw (West) will be meeting to look over the deal and either sign off on it, or keep negotiating. I'm guessing it's the former.
For now, I'm going to keep this update short, and when a final, official deal is reached and announced, I'll post it up. Monday may be the end of the strike, if not sooner! However, before we get too excited, we need to keep in mind that everyone involved has to be okay with the deal.
If a deal is reached, producers and writers might be able to do a few episodes for May 2008 sweeps, but I'd say pilot season is a write-off. It's too late in the game to get enough pilots written and shot before TV networks can decide what they want on their fall schedule. They have many pilot scripts commissioned, and shoot a certain number, which are then decided to be worthy to appear on the network. But all this takes place during the fall/winter and early part of the new year. We're way past that.
Source: Ain't It Cool News