An Overview of Panels
The Panels module allows a site administrator to create customized layouts for multiple uses. At its core it is a drag and drop content manager that lets you visually design a layout and place content within that layout. Integration with other systems allows you to create nodes that use this, landing pages that use this, and even override system pages such as taxonomy and the node page so that you can customize the layout of your site with very fine grained permissions.
Sounds great, right? Read more about the power of panels.
Status of Panels
Panels in Drupal 7
Panels 7.x-3.0 is now at a stable release. We usually release once or twice a year. If you're interested in pushing a patch forward for release, make sure to get it reviewed and RTBC.
Panels in Drupal 8
We’re actively working on Panels for Drupal 8 which works with the new layout_plugin module and mainly is an interface to configure and store these layouts.