From what I understand the patch have some issues which need to be figured out before we can put it into Qt 4.8.
This does not imply that the code is of minor quality or anything negative, just that some polish is required to make it work better on one platform or another, improve the APIs a bit, etc. A biggish contribution has to go through the legal department, too. All that takes a while. Having said all that: We have high hopes to improve the process of getting contributions into our code with the open governance process. Unfortunately I am not up to date with when that will finally become available, even though Qt Creator is doing a pilot of the process for a couple of weeks already. We can not wait to finally see the new process in the wild!
Till the patch ends up in 4.8: Just use the Qt that your distributor has conveniently patched for you in your ubuntu version of choice. If you need a custom Qt, then just add the patch yourself and off you go:-) The sources are all there, you do not need to wait for us:-)