The Bluetooth SIG has approved its 3.0 spec with a 21 April launch date: I've written before about Bluetooth 3.0, which pairs the 3 Mbps low-power frequency hopping radio system of 2.1+EDR with high-speed transfers via 802.11 standards. The idea is that a properly integrated Bluetooth 3.0 system will have a bulk-transfer mode that two devices can swap into. (Note that the SIG is referencing 802.11, the generic standard, as it doesn't have a specific program in place with the Wi-Fi Alliance--yet?--for cross-certifiation.)
For instance, if you had one of those ubiquitous BlackBerry or iPhone smartphones with Bluetooth 3.0 and Wi-Fi inside, you could start a sync session with your PC. For normal calendar data and other matter, the sync would use the Bluetooth radio system. To sync a large music or video file, the handset's BT gear would talk with the computer's, agree to switch to 802.11, and then make the bulk transfer. At the end, communication would return to the other radio.
This mode works in a quasi ad-hoc fashion, without requiring that a device join a Wi-Fi network, which is part of why the 802.11 label is being used. With the collapse of UWB as a near-term generic option for personal area networking (PAN)--it may wind up being important, but it's not right now--802.11 standards will likely morph into WLAN/PAN systems. Intel has been working on this for a while, disclosing its Cliffside project a year ago as part of a larger effort to rethink mobile device functions.
Bluetooth 3.0 will get its formal unveiling later this month along with information about which chipmakers have products ready to sample. Because the SIG is a practical group, standards aren't released until there are multiple vendors with interoperable prototype chips and hardware.