Recent efforts to improve the process at Wikipedia:Peer review yielded noticeable results last week, as they helped contribute to a record output of new featured articles.
Over the week covering from 27 February through 5 March, 17 articles were promoted to featured article status. Featured Articles Director Raul654 reports that this is a record for the most new featured articles in one week. Peer review helped with nearly half of these - Tamil language, Steve Dalkowski, Bank of China (Hong Kong), Aramaic language, Penda of Mercia, Kylie Minogue, Cincinnati, Lebanon and Northern Railway, and The Cantos.
Articles that have gone through peer review have been increasingly well-represented over the last few weeks among featured article candidates. They also tend to be more likely to be successful nominations. The Steve Dalkowski article was actually nominated unsuccessfully once, went through peer review, then came back and passed on its second try.