Good news for those of you who just have to be able to install applications to the SD card. Google -- which said in January that this would be addressed -- has officially marked the issue (1151, if you're counting at home) with a "future release" status and has closed the thread.
And one Googler replied with the following:
Apologies, but I'm not permitted to disclose scheduling information - suffice to say it's coming soon :) Sorry for being vague, and thank you for your continued patience - I sincerely appreciate it.
Dunno about you guys, but Froyo and Google IO can't get here soon enough. Thanks, Jacob!