What is the status of hierarchical deterministic wallets (BIP32)
I started implementing BIP32 for the reference client myself, but as there were more urgent matters to deal with, I have temporarily stopped working on it. I certainly plan to complete this, but I can't give any target date or version right now.

As far as I know from Alan Reiner (Armory's developer), he plans to switch to BIP32 as soon as the reference client implements them as well.