Angleo,
I don't know much about M-Theory or string theory in general. I do know that it appears that researchers seem to be losing interest in the subject. We can see that in the number of papers submitted for string theory and the number of times a paper cites other string theory papers. Here's the stats since 2000:
Year-----Papers Submitted-----Average # of Citations Per Paper
___________________________________________________
2000----876------------------------30
2001----830------------------------27
2002----962------------------------33
2003----837------------------------31
2004----893------------------------23
2005----843------------------------20
2006----856------------------------18
2007----642------------------------12
2008----428------------------------05
2009----311------------------------02*
*2009 is an estimate. We are 2/3rds of the way through the year and there have been 249 papers submitted to date with an average of 2 citations per paper. Multiply 249 by 1.33 and you have an estimate of 331 papers.
As you can see, interest in writing new papers has dropped off steadily since 2005 and the number of citations of previously submitted papers has been steadily dropping off since 2004.
You can see the stats for yourself at SPIRES Databse (
www.slac.stanford.edu/spires). In the search box type in "FIND DK STRING MODEL AND DATE = (year)". This will bring up all of the papers for that year. Next, select "Citesummary" in the Format drop-down box and hit "Display Again". That will bring up the end-of-year stats for string theory papers submitted. After that you can change the year and hit "Display Again" to see other year's stats.