There are strong indications that Emacs 19 will be available in 1992. The FSF has recently gone through a spate of copyright disclaimer checking, which is a good sign.
Lucid has released Lucid GNU Emacs 19.2, which is based on an early unreleased version of GNU Emacs 19. This will be similar to Emacs 19 when it finally arrives, but they are not the same. See section Lucid GNU Emacs -- alternative Emacs 19 with better X interface.
Work has begun on features for Emacs 20.