Here's a recent quote on universalism, by the Baptist scholar John Colwell (from Spurgeon's College, London) (page 27 of his new book, "The Rhythm of Doctrine" (Milton Keynes: Paternoster, 2007).

"The hope of the New Testament is unequivocally universal: there is no reality that is not destined to be brought to completion in Christ; there is no knee that will not bow to him, no tongue that will not confess him; God may have bound all over to disobedience, but only so that 'he may have mercy on them all' (Romans 11:32). Such universal hope ought not to be confused with cheap universalism: the precise outworking of God's merciful love is not to be predicted or presumed upon; he may love men and women in such a manner as to allow their rejection of his mercy to remain eternally determinative; he may love men and women in such a manner as not to do so. But in either case this will be an outworking of his merciful love rather than its opposite, for he has and is no opposite; he is who he was; he is simple and undivided; his justice is coherent with his love and not its contradiction; as father, Son, and Spirit he is eternally loving not arbitrary. But while the merciful love of God can never be presumed upon or its outcomes predicted, the hope that is formed by (Christian theology) can only be inclusive and never exclusive; a hope for the world and for all creation; a hope for all men and women; a hope for the Church and a hope for ourselves."