When it's ready and because it's so important we're taking our time. However the goal is a PDF by Christmas, with a Kickstarter just before in Oct-Nov
Walter we recorded our Tuesday night session playing the playtest adventure this week we'll edit and post soon along with the version played around Howard's dining table. I played with 8 players and had a growing threat pool which I used steadily but didn't use as much as I could have, and still the player's had a hard time (actually because as some left we took them out of the story for the purposes of the test). As a result I didn't spend as much Threat as I could have, because I wasn't trying to kill off the players. Just as with a game of D&D I know how to keep them on the edge (the final two players nearly came a 'cropper with the finale) and pull the punches enough to make them fear death.
Threat is not this system that forces you to do anything. You can actually play much of the system without it, sometimes I used it to fire extra arrows from archers, made a slave master try to dodge an attack, a player character almost miss a jump and end up hanging off an edge, etc and still the players had a great time. I could have spent a lot more - going back again I'd have used some more for scene changes, more dodges from the enemies, or return attacks but it was all fun and people were getting wounded left right and centre so I didn't feel the need to.