In order to enhance the power of Drupal as a blogging platform, I have planned on creating a pingback 1.0 implementation. This can be a great alternative to the current Trackback module for Drupal. There have been great chattering about how Trackback and Pingback compared to each other, and I must say that pingback is the better tool for the job.
I planned to finish it by next week; most of the function are already available but the display and user interface have not been finished. I also attached this development version which is superbly messy but can receive and deliver pingbacks (note: I think you need the Development module just to shut it up from errors). Stay tuned for the release!
PS. here’s a nice post about implementing Trackback and Pingback.