They've had 3 ballots. Still no Pope. The LA Times is reporting there's division among the Cardinals, but there's really no way for them to know that.
From the things I've read, the lunch they're now having is actually the key moment in the Conclave. After the first ballot, they had some sense of the range of candidates people were thinking about. After this ballot, that range should have narrowed quite a bit, maybe even down to 2 or 3. So, now it's down to the real horse-trading, asking themselves and one another which one do they want.
If the different groups are able to come to some agreement, they'll go back and resolve things probably by tomorrow.
And if there's still no Pope by the end of tomorrow, it likely means none of the major candidates are going to be able to get that 77 votes they need. In which case they go back to the drawing board.
If I had to bet, I'd say the main contenders right now are Scola, one of the South Americans and either Schonborn or someone very much outside the obvious -- O'Malley from Boston, Dolan from New York, Ouellet from Quebec.
We shall see.
Also, this is happening:
Which Jim Martin is calling a great advertisement for the Holy Spirit.