see paper at http://www.joux.biz/publications/Knapsacks.pdf and rjlipton's blog post about it at http://rjlipton.wordpress.com/2010/02/05/a-2010-algorithm-for-the-knapsack-problem/
of course, this is an open ended question, there is still room for better algorithms.
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CSI of Charles University
This appears to be answered
see paper at http://www.joux.biz/publications/Knapsacks.pdf and rjlipton's blog post about it at http://rjlipton.wordpress.com/2010/02/05/a-2010-algorithm-for-the-knapsack-problem/
of course, this is an open ended question, there is still room for better algorithms.