So ... is the proof correct or not ? (Please only answer this if you have evidence ... this question might take some time until it's answered)
In one word: No.
It seems that there are some fatal flaws in Deolalikar's proposed proof. The real question now is if the "proof" has any useful ideas that can be built upon. In any case, it seems that the proof in its current form simply isn't correct, and can't be corrected either. On the other hand, Deolalikar has not given up on the proof, so I guess it's not the end of it.
You can find an update here: http://rjlipton.wordpress.com/2010/08/15/the-p%E2%89%A0np-proof-is-one-week-old/
See the wiki.
A nice article of RL Lipton can be found in Communications of the ACM.