Well, Ryan Nock has now joined the "WotBS #12 team" (as you may recall, he left ENP a couple of months back, but has returned to finish this adventure for us and to make sure the saga gets a grand send-off). He's been working on the manuscript for the last couple of weeks. He's trying to tie in every loose end, ally, enemy, etc. from the entire saga in an epic finish. So you can expect to see the return of many familiar and not-so-familiar characters.
As I mentioned before, we're tying all that in to a grand battle arc, where pretty much everyone in WotBS you've ever met is on the battlefield. Think the epic battles from LotR and then think... bigger!
At the same time (this isn't taking time out of #12), we're working on the big 3.5 colour hardcover compilation, and putting plans for the 4E compilation in place.
It may seem quiet, but there's *craploads* of work going on right now. It's like a duck, serene on top, but furiously paddling beneath the water. I promise you, it's gonna be good.
doppelganger - are you sure? Because the final thing is going to be really good. If you *really* want the earlier draft, then fair enough, but I'd strongly recommend waiting for the super-duper product!