A while back (a few years?), progress on tiered compilation was going well until the main engineer died along with any further news or progress on it.
However looks like there been a recent patch to JDK7 that now adds this.
http://weblogs.java.net/blog/forax/archive/2010/09/04/tiered-compilation
from the looks of the benchmark there its almost twice as fast as the client JIT. Now that’s an impressive speed boost.
