It took a few years longer than anticipated, but Netscape Navigator is finally being discontinued as of February 2008:

While internal groups within AOL have invested a great deal of time and energy in attempting to revive Netscape Navigator, these efforts have not been successful in gaining market share from Microsoft's Internet Explorer. Recently, support for the Netscape browser has been limited to a handful of engineers tasked with creating a skinned version of Firefox with a few extensions.

AOL's focus on transitioning to an ad-supported web business leaves little room for the size of investment needed to get the Netscape browser to a point many of its fans expect it to be. Given AOL's current business focus and the success the Mozilla Foundation has had in developing critically-acclaimed products, we feel it's the right time to end development of Netscape branded browsers, hand the reigns fully to Mozilla and encourage Netscape users to adopt Firefox.

While we will no longer support the Netscape web browser as of February 1, 2008, Netscape.com will still continue to serve as a general use Internet portal.

As I noted when Navigator 9 was released recently, this project has been a complete waste of time in recent years. This was long overdue.