I think its quite common for you to get a second R&R from a journal, so you get another chance. BUt I've heard people get 2 R&Rs and then a rejection which must be extremely annoying, particularly if you'd revised it specifically for the way the journal wanted it which may not be relevant to other journals.
I'm glad to hear that Sneaks. After lots of rejigging and re-structuring, I've come to the conclusion that their revisions will require me to make some significant changes. I don't mind the changes, but they haven't given me very clear instructions, apart from 'that needs more info' sort of thing so it's hard to know if what I'm doing is what they want me to do and I'd be very upset if they just went 'nah, still not good enough'. Hopefully I won't get a rejection then.
Tt_dan - personally, I wouldn't worry about that too much. They'll let you know either way at some point and submitting a paper isn't the speediest thing ever, especially if they're depending on others to review it!
tt_dan, I'd chase it if its gone beyond the time they set you. Chances are its got lost or stuck with a reviewer they need to chase.
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