Last Night, Nicholas Bishop has committed his long-awaited 'Dynamic-Topology' Sculpt mode code to the trunk. Dynamic-topology sculpting automatically subdivides the mesh where it needs more resolution.
It’s finally done! Huge, huge thanks to everyone that helped out with test builds, bug reports, suggestions, code review, donations, encouragement, and of course awesome test images! The models and renders in the Dyntopo tests thread on BlenderArtists are really something to see.
Although dyntopo won’t be in an official release of Blender until 2.66 comes out in February, any test builds made from trunk r53450 or later will have dyntopo. Please check out the documentation, play around with the tool, and report any bugs you find to the Blender 2.6 bug tracker. Thanks again everybody!