Seems things are moving closer:
http://news.bbc.co.uk/2/hi/asia-pacific/7452097.stm
36 Weekend flights starting from July 4.
Taipei to Shanghai in about 1 hour - vs about 5 via Hong Kong.
Not good for a few parties (Cathay, Dragonair, Air Macau, Hong Kong and Macau Airports) if it becomes normal practice.