Project Offset - any news?

I've been looking foward to this particular game/project for some time now.
Here's the link: www.projectoffset.com/

I think it's amazing how only 3 people can come up with a next-gen engine originaly created about 3 years ago. A few videos were leaked on the internet and from there the response ended up being more than they anticipated...most excellent.

For those who are not familiar with Project Offset, it's a first-person shooter set in a fantasy setting. Fantasy creatures and beings including dragons, dwarves, goblins and trolls, etc. Project Offset will also include a multiplayer portion. Some of the multiplayer aspects may include cooperation (players must work together to build castle walls and reinforcements) and the summoning of creatures, such as dragons.

Last I heard of it, it still hadn't been picked up by any publishers. What is EA or others waiting for???

****EDITED****
Here's a video if you want to see a quick preview of the project:

Uh, you should just forget about it until like 2010 when they might be ready to release a Beta. Until then you're just going to get excited over nothing for a long time... Not to mention it has absolutely stunning high definition graphics that put Crysis to shame, which in turn puts our hardware to shame.... I am looking forward to it as well, but I try to forget about it so I don't go crazy.