Updating a previous item, Pavement will indeed officially be touring and playing the Central Park Summerstage on September 21, 2010. From the press release:
After years of speculation, the most important American band of the Nineties is returning to the stage with the lineup of Mark Ibold, Scott "Spiral Stairs" Kannberg, Stephen Malkmus, Bob Nastanovich and Steve West reuniting for dates around the world in 2010. Please be advised this tour is not a prelude to additional jaunts and/or a permanent reunion.
Described in their own Wikipedia entry as having experienced "moderate commercial success," Pavement's catalog for the Matador, Domino, Drag City and Treble Kicker imprints has come to define in the eyes of many the blueprint for independent rock over the past generation. An evidentiary compilation release is planned to coincide with the touring sometime in 2010.