Having a busy day, Nokia Beta Labs has formally launched a next-gen Java Runtime for S60 5th Edition and upwards - presumably this will make it into future device firmwares. In addition, version 2.0 is a component which can be maintained in the future independently, through the 'Sw update' system built into each device. The technicalities of the update mean that the installer (a 4MB SIS) includes a routine to modify any already-installed Java MIDlets to work properly with the new runtime. More details below.
Nokia Java Runtime 2.0 for S60 (JRT 2.0) is a totally re-written Java mobile execution environment for Nokia S60 devices. It gives you several usability and performance improvements, including:
One-click application installation
Improved application launch user experience (users get a 'loading' animation, to reassure them that they *did* tap the icon, etc 8-) )
Improved execution performance (faster Java apps)
Here's the download page. It's not know whether this new runtime will make its way down into S60 3rd Edition phone firmwares, or via standalone updates.