RICHARD BAUCKHAM has published a roundup essay on the Talpiot (Talpiyot) Tomb inscription over at Larry Hurtado's Blog: Bauckham on the Talpiyot Tomb Inscription. Go there for a link to the pdf file.
The fact that expert epigraphers and philologists can come up with such different readings is an object lesson in how much we still don't know about ancient languages and their historical contexts.
Background on the recent discussion of this inscription is here, here and here. Background in general on the Jesus Discovery/Talpiot Tombs discussion is here with many links.