Witchdoctor,
Basically what it comes down to is that you WILL be nailed for "disorderly conduct" for open carry in a metro area (like Waukesha - where I live).
Currently, there are NO pro-gun organizations (NRA/WCCA/GOW) that are willing to fund a challenge. They are much more interested in getting pro-gun folks elected/re-elected, and then getting the PPA passed next spring.
If you'd like the details, IM me for my phone# so that we can talk, or so that I can get you a written version of the conclusions I drew after research and talking with a lawyer. I was willing to be the test case, but didn't have the scratch.
If you've got a spare $100k burning a hole in your pocket, a good lawyer lined up, and you're willing to be the poster boy for open carry, have at it. Otherwise, it looks as though you'll have to wait for the PPA to come along.
In the outlying areas, in your own home, or on your own land, I don't think it'd be a huge problem, as most DA's wouldn't prosecute (MHO). You may do the ride, but prolly won't do time.
-FMD