VISION OF GABRIEL WATCH: Professor Israel Knohl has published a new article in Biblical Archaeology Review which defends his theory that the inscription is about the suffering Messiah ben Joseph. The full text of the article is online:

The Messiah Son of Joseph
“Gabriel’s Revelation” and the Birth of a New Messianic Model

(Background here.)

UPDATE (22 August): Note that premier paleographer Ada Yardeni agrees with Knohl's reading and translation of the key phrase "In three days, live."

Also, Douglas Mangum comments at the Biblia Hebraica blog.