Yesterday http://drupal.org/node/1597730 was added as an initiative to get the majority of the File Entity (http://drupal.org/project/file_entity) module into Drupal 8 Core.
This is a large task and there is still a lot of work needed between now and the Drupal 8 feature Freeze on December 1st.
At the Drupal Dev Days in Barcelona next month there will be a Media sprint (http://barcelona2012.drupaldays.org/drupal-media-initiative-sprint). The intention is to use this opportunity not only to do a lot of coding, but also work on and create a roadmap for what we need to do to get File Entity into core.
We will need a lot of help and resources, not just coders, to make this happen. If you are interested to help out in any form, you find Dave, me and others working on this most of the time in the #drupal-media IRC channel.
Also, today (Thurdays 24th) we have our 10th bi-weekly Media Initiative IRC meeting (http://groups.drupal.org/node/232333) starting at 9pm GMT/UTC. Your most welcome to join us to help bring an awesome file management solution to Drupal.