Unfortunetly, I cannot answer when it will be ready.
What I can say is, this is shaping up to be a better, more solid game then before. Some changes arent much, others are more.
One of the notable differences is that types are now templates. Base humans have no special abilities (level adjustment -1). By adding a type (level adjustment +1), you have a normal character with an assortment of type abilities. If you want to add more then one type, it's even easier then before.
If you want to make a fantasy mall game and have elven freaks or dwarven valley people, you can do it. Use the base race from the PHB, add a template, and voila. Innovation.