Update December 20th: CiviCRM 4.1 for WordPress is currently in alpha stage. Features for this release include:
* Access all CiviCRM back-office functions as a plugin in the WordPress Dashboard. Admin, editor and author roles have full access. Granular permissioning by role is planned for a future release.
* Create online contribution pages, online event registration pages, and profiles - and include as public pages in your WordPress site (front-end).