EDIT: New development that apparently confirms the stories that Iran has rejected the offer from Russia.

Iran fins Russian nuclear comprimise unacceptable

I find the citation, from an unidentified Iranian diplomat to be the most important:
An Iranian diplomat cited by the Vremya Novostei daily said Iran wanted Russia to produce large-scale enriched uranium for the country, but needed a domestic uranium enrichment program to create "the basis for independence in the nuclear sphere." The diplomat also was not identified.

'independence in the nuclear sphere'. As far as I see that includes rejecting monitoring/control regulations by any international body (the UN). If that is the real plan Iran has (and I believe they have just as much right as any other rational nation to develop nuclear capability) then expect this issue to be dragged out for a very long time.

Older:
Over the past two days Iran and Russia have been trying to work out a deal that might be internationally accepted as a comprimise on Iran's development of nuclear capability.

The reports coming out of those meetings are quite confusing and sometimes contradictory.

Let's start with good news first, shall we?
This one is from Xinhua, and I have a hard time believing government endorsed press from China, but because China and Russia have somewhat 'teamed up' on the Iran issue, and because the two nations have pretty good relations, I'm tempted to believe the Chinese might have heard something first that hasn't yet reached others.

Iran reaches rough agreement with Russia

Not so positive news (Washington Post)
Hopes fade of deal with Russia

Nebulous news:
Russia press: Iran Diplomat says talks with EU will build off Russia dialogue
IndiaTimes - Talks to Continue
Brief US Coverage