Will there be a happy ending someday for these two? For now, a happy status quo will have to suffice.
Today, the final episodes of the Inu Yasha anime were shown in Japan. The one-hour special, The Bond Between the Two, Using the Shard of Shikon, ends the anime run, though the actual saga of the half-dog demon, half human warrior, the girl from the present and their allies is not yet over. Naraku and his spawn are still out there, and the final battle is still to be fought.
The IY manga itself is still running, and winding down as well to the finale. There's still a great possibility, if not a certainty, that the anime will continue in some shape or form someday. It's been a great run, and I can easily say that the Inu Yasha anime's quality has been excellent from beginning to end- 167 episodes, and all great. Take a bow, dog-boy and company. It's been great.