In her recent ILLS talk, Tandy Warnow discusses computational approaches for inferring language evolution and linguistic relationships:
Computational methods for inferring evolutionary histories of languages
A page with links to various publications associated with this project (and the datasets used) is available here: http://www.cs.rice.edu/~nakhleh/CPHL/.
One of the interesting points of this study is the relationship of Germanic with respect to the other branches of Indo-European. Germanic, at least when the morphological data is given more weight, is not particularly closely related to Italic or Celtic, though it shares a number of lexical similarities with these groups. This is suggestive of a later migration of Germanic-speaking peoples into an area where they came into contact with Italo-Celtic speakers. In any case, it's an interesting approach to historical data.
For more ILLS2 videos, see this link: http://ills.linguistics.illinois.edu/current/showcase.html.