Project Server 2010 SP1 is available for download.

Microsoft just released Project Server 2010 SP1.

MS also recommends to install the June CU after SP1 since it has number of fixes.

Please read carefully all instructions and test your applications in test environment before installing it to production servers. 

SP1: http://blogs.msdn.com/b/project/archive/2011/06/28/announcing-the-release-of-service-pack-1-sp1-for-microsoft-project-and-project-server-2010.aspx

SP1:http://support.microsoft.com/kb/2460047

SP1:http://blogs.technet.com/b/office_sustained_engineering/archive/2011/06/28/announcing-office-2010-and-sharepoint-2010-service-pack-1-availability.aspx

June CU: http://support.microsoft.com/kb/2536586