Making KFC-like chicken
It's possible that the breading/spice mixture has been revealed, according to an article in the Chicago Tribune. They also provide a full recipe here, though as far as I can tell, the solid part is the spice mixture, and they're filling in the rest of the recipe.

They say it seems to be a good match... with the addition of MSG:


  But more important, did it taste like the Colonel’s secret blend of herbs and spices? It came very close, yet something was still missing. That’s when a reporter grabbed a small container of the MSG flavor-enhancer Accent (how did that get in the test kitchen?) and sprinkled it on a piece of the fried chicken. That did the trick. Our chicken was virtually indistinguishable from the batch bought at KFC. (Does KFC add MSG? A KFC spokesperson confirms that it does use it in the Original Recipe chicken.)




The full story: a nephew of Colonel Sanders spoke with a reporter and showed him a recipe he claimed was the original recipe, then later downplayed it:


  "That is the original 11 herbs and spices that were supposed to be so secretive," he says with conviction.
  
  (In a subsequent phone interview with a Tribune editor, Ledington dialed back his certainty and expressed reluctance about sharing a recipe that — if it's legit — ranks among corporate America's most closely guarded secrets. "It could be; I don't know for sure," he said about the handwritten list of ingredients, adding that this was the first time he'd shown it to a reporter. "I've only had that album for four years, since my sister passed away.")


KFC's official responses were of a "neither confirm nor deny" flavor, so it's pretty hard to say if this is real or not, but it certainly could be. The clearest they said was:


  "Lots of people through the years have claimed to discover or figure out the secret recipe, but no one's ever been right."


The handwritten recipe:



Transcribed:


  11 Spices - Mix With 2 Cups White Fl.
  
  1) 2/3 Ts salt
  2) 1/2 Ts Thyme
  3) 1/2 Ts Basil
  4) 1/3 Ts Origino
  5) 1 Ts Celery Salt
  6) 1 Ts Black Pepper
  7) 1 Ts Dried Mustard
  8) 4 Ts Paprika
  9) 2 Ts Garlic Salt
  10) 1 Ts Ground Ginger
  11) 3 Ts White Pepper