BEA Weblogic is the industry-leading Java application server. Weblogic is currently (at the time of this writing) at version 6.1.
Weblogic app server supports all current standards of the entire suite of J2EE technologies and is essentially the only server a company need to consider, assuming a fully java-driven system is the goal of said company.
Weblogic's 6th iteration has introduced a lot of new functionality into the application server market. The server has gotten away from properties files and is now entirely XML-driven. Server administration is now done through something called a control panel, which is basically a web page being served by the server itself where an administrator can log in and make changes to the server configuration, or deploy new applications or any number of other tasks.
Weblogic is scalable, clusterable, secure and rock-steady. It has risen above the competition in an industry where product differentiation is very difficult.