There's nothing to update, of course, since the Baghdad meeting hasn't happened yet but naturally there's a lot of speculation in the media about what sort of deal may happen.
Bottom line is despite all the "optimism" that is being expressed, I don't think that the US will (nor can) remove the sanctions, and so any real breakthrough is unlikely.
In fact, I suspect that the American side is pretending to be optimistic because they want to temporarily reduce oil prices, thus helping cement an Obama election victory -- and once the elections are over, it will be back to the same old, same old war mongering on Iran.
Oh and fyi:
CHINESE shipping groups were reported today to be greatly profiting from transporting Iranian crude with little competition because of sanctions...