Nothing much!
X2 is actually quite a long way away. There's no point in getting excited about it yet, at all. We have a lot of work to do and a reduced number of coders able to commit to working on it. It will run independently of and alongside the current X-System rather than supercede it and it will address different aspects of LFS, specifically relating to existing and future leagues, get-togethers, online gatherings and all other assorted types of events.
With the X-System, we set about changing and improving pick-up racing. With X2, we plan to make league racing more accessible (and by default, more popular). The tools we're working on will be useful to anyone already running a league and to anyone with an idea, thinking about starting one. It'll be both organization-oriented and also team-oriented, with mixed and fully integrated InSim and Web-based portal-style tools for organizers and teams/managers to help everyone at every stage from concept through promotion, race control, live stats and beyond.
I can't say more without laying bare the specifications of the project, but hopefully you'll get a bit of an idea
(finally!) And welcome back to LFS! 
I was just searching for some nice smilies