As announced on the Official Linden Blog, sculpted prims are now a reality. What this essentially means is that the limitation of the current shape options is now gone. The best explanation of what this means has been provided by Torley Linden on YouTube:
Linden have also provided a high-res version here
A discussion topic on sculpted prims has been started on the SLOz discussion forum
[…] Sculptured prims became a reality in Second Life. […]