Perl 6 will separate parsing and compilation and runtime, making the virtual machine more attractive to developers looking to port other languages to the architecture.
Parrot is the Perl6 runtime, and can be programmed at a low level in Parrot assembly language. Parrot exists in a limited form as of June, 2003, and a small number of languages (Jako, Cola, Basic, Forth and a subset of Perl 6) exist simply to be 'compiled' down to Parrot assembly language opcodes.
While Perl6 is being developed, the best way to stay informed about what's happening is to keep an eye on the front-page of http://www.perl.com/ and look out for articles. As each new language-feature is being developed, it gets discussed on Perl.com and the associated mailing lists, so subscribe to some of those to see glimpses of what Perl6 will be like.