Yesterday on Twitter, @TrevorDuke asked "@cyanogen Just wondering what happened to nightlies! I love seeing the releases come together day by day!"... well fortunately all, Cyanogen himself actually responded. CyanogenMod 7 is apparently almost ready for nightly releases.
In the upcoming days we should definitely see CM7 nightlies for the Nexus S, and hopefully a few other devices soon. We are hoping that more CyanogenMod settings will be available in the nightlies than were previously released in the Alpha. We will definitely be flashing and testing them out when released, so stay tuned in for further updates!
[Via Cyanogen Twitter]