Yes, Chelsea are still on the hunt for an elite striker. No, there have been no serious developments in that hunt -- Radamel Falcao is out because Monaco, but Edinson Cavani remains priority number one. Probably. Unless you're the Telegraph, who are claiming that Chelsea are 'refusing to get drawn into a bidding war*' and may soon turn to the task of getting Robert Lewandowski to believe that a move to Stamford Bridge is somehow more attractive than hooking up with Europe's best team in the Allianz Arena. Good luck with that one.
*I think someone should teach the Telegraph's writers some combination of economics and English, but sadly nobody asks me about these things.
On the Cavani front, there have been some quotes -- his mother apparently said on Uruguayan radio that the striker had talked to Manchester City and Real Madrid, while Papa Cavani is pushing hard for Real. None of this means much unless either club meets Napoli's asking price, mind you, and Chelsea look like the only team actually making bids for him at the moment.
Speaking of bids, if reports from Uruguay are to be believed, Cavani asked Napoli to accept bids below his buyout clause in order for him to move this summer. Naturally, Napoli said no, because that would be an insane thing to do. The club have all the leverage right now, and there's no reason for them to capitulate. If Cavani doesn't like it, he shouldn't have signed that contract last summer.
All in all, the situation's about as clear as mud. Hurray!