I wouldn't recommend it. Though it is safer than it was, there are still major security issues. The army is everywhere, there are roadblocks and security checks, and a virtual curfew at night, at least in Srinagar. Shame, but i think it will be a few more years before Kashmir is again a nice place to visit.

The Ladakh region in the far North of Jammu & Kashnir state is safe however, and well worth visiting, from June to Septmeber. There are daily flights from Delhi to Leh.