Well, according to his posts elsewhere, he's still working on the game. He intends to have anything finished by Christmas time, though he'll likely be adding only online and the character creator thingy and a few other things, such as ports and balancing.
The game's thread on Smash-boards: http://www.smashboards.com/showthread.php?t=287614
The game's thread on Smash-boards: http://www.smashboards.com/showthread.php?t=287614