Three companies are competing with different approaches to this goal. While they weren't keen on making predictions regarding times and prices, I found out very interesting things about their technologies. My news feature on this is now out:
The $1000 genome in sight with the latest technology
The price of sequencing an entire human genome is falling fast, thanks to a new generation of sequencing technologies, but how low can it go?
Chemistry & Industry No. 19, p 14-15.
surprisingly, it appears to be open access
Incidentally, one of the companies involved, Helicos BioSciences, also has a paper in last week's issue of Nature, on sequencing cellular RNA directly (without producing complementary DNA first) and at single molecule level.
That's Nature 461, 814.