We generated a large number of Ideas and identified many mentors for those ideas. It was an exciting phase. The Ideas page is at https://community.jboss.org/wiki/GSOC12Ideas
Since the number of official gsoc slots has to be finite (you do the math - 1200 students from 180 organizations - so maybe anywhere from 2-20 slots per organization), we were lucky to finally get 8 slots allotted for JBoss Community.
So after negotiations with gsoc office and our mentors, 8 students were identified. The list for JBoss community is announced at https://community.jboss.org/wiki/GSOC12JBossCommunityStudents
Congratulations to the students accepted into the gsoc program via JBoss community. As true open source ambassadors, JBoss Community is not forgetting the students whose proposals have been rejected. We are working to include them in open source projects nevertheless. :)
In the end, open source is the winner!