Recently Zend have released a preview version of their upcoming PHP 5 framework. Developers include Andi Gutmans and Chris Shiflett - big names in PHP. Extreme Simplicity is the driving idea. Whether it is true remains to be seen.
The framework is based around the MVC design pattern, and provides a whole bunch of extra functionality for speeding up application development. Beware, the current release is definitely 'alpha' stage and there are still bugs abound.
At a first glance I am really liking what I see. There's nothing terrifically revolutionary here but not many frameworks have names like Zend and IBM behind them.
It's all really interesting for me, I am looking to take up an MVC framework which will take care of the mundane things in development. If the forthcoming Eclipse plugin is of the same high standard I think I will have found a winner.