The British government is increasingly pessimistic about the prospects for a Sinn Féin-Ulster Unionist "acts of completion" deal leading to the early restoration of a Stormont executive following assembly elections next month.
This became clear last night as next Thursday week (October 16th) was confirmed as the due date for any announcement of an election to be held on Thursday, November 13th.
The British Prime Minister, Mr Tony Blair, is expected to make the final judgment call after a further round of consultations with the main parties at the beginning of next week.
Senior Ulster Unionists appear convinced that, if Mr Blair is disappointed by the terms of any republican offer, he could again opt for postponement and a further six-month suspension of the assembly.
Against that there is clear pressure on Downing Street from the Irish Government and elements within the British system who believe a further delay would risk serious danger for the peace process.
Some Whitehall sources say that they are expecting a decision next Wednesday, to be announced the following day, for what is being described as "an election to process".
The "process" hoped for by the British and Irish governments would see the parties elected to a still-suspended assembly entering into a formal review of the Belfast Agreement immediately after an election.
However, the electoral process itself could see an emergent anti-agreement unionist majority - comprising the DUP and the dissident wing of Mr Trimble's party - committed to a renegotiation of the 1998 agreement.
British and Sinn Féin sources appear agreed that the IRA will not declare its war over in order to facilitate a deal with Mr Adams enabling Mr Trimble to commit the UUP to resume power-sharing in the aftermath of an election. Informed SDLP opinion also suggests that the IRA will not commit to the termination of the full range of paramilitary activities in the terms prescribed last April.
The expectation in government circles is that, in such circumstances, Mr Trimble would fight an election on a relatively "hardline" ticket, without commitment to resume government ahead of yet another negotiation about the end of paramilitarism demanded in Mr Blair's "acts of completion" speech last October.
The Irish Times also understands that Sinn Féin regards the question of its membership of the Policing Board as inextricably linked to the precise timetable for the devolution of policing and justice powers.
Sinn Féin sources say the question of board membership will only be decided in the context of an overall decision to endorse the policing dispensation - including the arrangements for devolution and "representative" policing of the communities - and to encourage young republicans to join the PSNI.
The main advance on the failed negotiations earlier this year is in the markedly improved relationship between Mr Adams and Mr Trimble.