Khronos has announced that its standard for deploying OpenGL in JavaScript has reached “draft standard” — which means that it is inviting comment from developers. There’s still a ways to go:

But don’t hold your breath for Web-based first-person shooters that rival native applications. First, even if 3D is accelerated, there are plenty of other processing and user interface constraints on Web applications. Second, even after WebGL is standardized, it must be built into browsers, people must upgrade to those new versions, and programmers must learn how to support the technology.

With draft standard, 3D Web closer to reality | Deep Tech – CNET News.

That said, all the browser makers except Microsoft are backing the potential new standard (though Google has O3D going as well, of course).

It might also breathe new life into VRML/X3D — there’s efforts afoot to marry the two.