Group Policy Management Console has reached its final beta stages. Today the Release Candidate (build 3788) was posted on betaplace.com
Microsoft plans to RTW (Release to web) early april. The Microsoft Group Policy Management Console ("GPMC") is a new tool that unifies management of Group Policy across the enterprise. The GPMC consists of a new MMC snap-in and a set of programmable interfaces for managing Group Policy. It is planned to ship as a standalone RTW release shortly after Windows Server 2003 RTM.
News source: Bink WindowsXP