Trying to take down the most prominent and well known (not to mention take down-resistant) torrent site was never going to be easy. The vacuum left in its place is too big to not be filled. So the original Pirate Bay as we know it has disappeared, with no timetable for return.
The problem is that this has a potentially negative effect on the entire Internet, as dozens of Pirate Bay imitation sites sprang to life. Some less than honest people are trying to relieve would-be torrent users of their hard-earned cash by promising access for a small one-off payment.
Some, on the other hand, are offering access to virus-ridden downloads or other malware. Amongst this cesspool of scum stands one well-regarded site, Isohunt, that has mirrored the Pirate Bay. Isohunt is attempting to keep users from abandoning the Pirate Bay while it is offline. Everyone is waiting with bated breath to see if the original Pirate Bay rises yet again from the ashes. In the meantime, these mirrored sites are not offering the ability to upload new content, but merely mirror a point-in-time copy of the Pirate Bay.
Perhaps in anticipation of the takedown, the Pirate Bay essentially mirrored itself so if it died, it would be able to continue for as long as someone could be bothered to host it. Interestingly, the first official comments from the people behind the TPB have started to appear. The comments, depending on your point of view, are either good or bad. To sum them up: There is no decision as to when or even if the Pirate Bay is being resurrected. Whatever happens, we won't see the new Pirate Bay anytime soon.