Matt Cutts posted 6 minutes after the new day today (which was 3:06am my time), Jagger winding down;
Q: Is the update winding down? A: It’s starting to. Recall that all of Jagger1/2/3 are separate changes. Jagger1 and 2 are done, and you can see what Jagger3 will look like at 220.127.116.11.
The WebmasterWorld thread I covered last night under the name Jagger Update Done? Does the Saga Continue? links to Brett's thread on the completion of the update. The discussion continues after Matt Cutts replies with this update.