The research on personality inventories continues unabated with two new studies.
The first, by Taylor et al. in the December 2010 JOOP, found that empathy plays an important role in explaining the relationship between Big 5 traits and organizational citizenship behaviors.
The second, by McCrae, et al. in the December 2010 Journal of Personality and Social Psychology, was an attempt to better explain the genetic underpinnings of personality. The effects found in this study were small but significant, suggesting further research is needed to better understand this relationship.
Speaking of personality, don't miss Bob Hogan's most recent post to his blog; it features a wonderfully simply explanation of the value of even "small" correlations between assessment instruments and job performance.