Many who feel the evolution of man has stopped are referring to the natural selection i.e. survival of man. However, this is a bit misguided. The context of human evolution has drastically changed. This is a philosophical turning point in the discussion and has to do with the cybernetic theory in one approach to it. This is theoretical stuff here. It happens to be an interest of mine which I am proposing for my purpose statement on graduate school thesis applications. One area I'm leaving out for purposes of time is the concept of boundary conditions in open system ecologies.
The relationship of an entity persisting through time can be accomodative, regulatory, or extraregulatory.
Accomodative: The entity adjusts itself to the sum of all ecological factors. A rock persists as a rock in most environments. Its temperature changes to match the environment, for example, in most ranges of existance. In some conditions, it erodes or melts. Some cold blooded creatures adjust their activities to their surroundings. For instance, body temperature fluctuates with the surroundings.
Regulatory: Following on the last example, a regulatory entity contains feedback processes by which the internal state adjusts to external pressure to persist through time. Humans have a metabolism which (within a range of values) will maintain body temperature with little fluctuation.
Extraregulatory: Controlling the environment to persist through time. Examples of this are humans reshaping the environment, birds nesting, and creatures burrowing. These behaviours enable a limiting of the range of flux experienced in the natural world.
The selection pressure (biological and otherwise) exists within the context of an entity as constant, variable, or unique. A unique experience for a human may be a tidal wave. This is not unique on the time scale of the planet. A uniqe experience for a fruitfly might be a storm. This is not unique on the level of a human life span. A constant pressure (such as predation or long term environmental condition) tends to produce uniformity of the best suited traits. A cyclical selection pressure tends to produce a somatic range of traits. Unique events tend to produce species level selection through extinction or massive changes in the population. The complex interaction of these factors gives an overall context for existance.
Now, some feel that the extraregulatory capacity of humans has increased so much that there is little external selection pressure acting on individual organisms. Some systems theorists posit that the natural selection among humans has turned largely within the human population and is spreading through governments, economies, down to the level of "memes." Natural selection, as such, is analogous to the fundamental way by which any discreet entity persists through time. Biological evolution among the human population is currently undergoing little selection pressure, in that a large portion of the population lives to reproductive age. Those that don't live to reproduce are frequently dieing from unique events such as bombs falling. Most of the selection is sexual selection on the level of the organism, and also selection against disease. Epidemiology is a fine place for some further study.