Ya, the kids who are begging for this don't realize the guys working on it are all adults with real lives, houses, families, jobs, and other priorities. This is only a hobby for them to tinker with in their freetime... so it's best to just let them work on it when they can without bothering them.
When they have more news/progress it will be posted in our Site News as STICKY for at least 24 hours straight and also the project page
... so don't worry, nobody will miss it.
Also, when it is ready people will be bored with it 2 hours after they release it because then all you can do is connect your PS3 and let it do it's magic... then you disconnect, and wait several weeks/months for them to take the data and apply it to the next phase of the project.