I have written before about the mapping of Antarctia in OSM. Since then there has been a lot of activity. Christoph Hormann has prepared better Antarctica data for import and has documented the planned import extensively on the wiki. Peter Körner has created a web map in Polar Stereographic Projection.
At the hack weekend, Christoph and I were interviewed on this topic by Peter Körner and Andreas Hubel for Radio OSM, the German language OSM podcast, you can listen to the interview here (Interview is in German).
There are still things to discuss and do before we can do the actual import, but I am very optimistic that we will soon have better Antarctica data.