Threads like this annoy me. There is no way to find out the real answer to the question until Revolutions comes out! If the W. bros wanted the kid to be the one, they'll do it in Rev.! If not, it'll never happen!
Anyway, my 2cents:
NEO IS THE ONE.
I was just thinking about that conversation from a slightly different perspective.
Neo: "I'm not the One?"
Oracle: "Sorry kid. You've got the gift..."etc.
Possibly a double negative?
negative + negative = positive
Neo says, I'm not?
The oracle says Nope, as in saying to him that he is wrong in that statement.
She follows it up by talking about the gift and how he's waiting for something, as in he can't become the One until the thing he's waiting for arrives, but he still is the One.
Just my most recent reverse thoughts.
-DM31