Gilbert is currently creative director at Hothead Games. He's working on two projects, the first of which is being shown to us at GDC with Gilbert in attendance. It's called Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness, and it's based around characters from the Penny Arcade Internet comic strip created by Mike Krauhulik and Jerry Holkins - a.k.a. Gabe and Tycho.
There is good news for those who like their Ron Gilbert games a little more meaty. He's also working on a title called Deathspank. Like Penny Arcade Adventures it blends adventure and RPG gameplay, but according to Gilbert there are some key differences.