No, it's not done yet. Coming along nicely, though. I think Corwin's suggestion it be released on April 1st is still a good idea.
I've been working on it every single day for five months. It's come a long ways since I put the new scripting engine in for the NPCs and had the formidable task of redoing all NPC logic in the new script language.
Doing all the game logic for NPCs as scripts according to the original scenario has been a lot of work for one person. About 32 out of the 64 NPCs in the game have more than a thousand lines of scripting now. From complex quests to training they can give us, wishes they grant, context dependent behaviours, etc.
The scripting language has been working great with few qualifiers. It's better than my original byte-code engine, better than Simkin, best thing I have used to do the NPCs.
All the critical logic involved with NPCs is done and the critical bugs involving lost inventory have been fixed. I broke critical and non-critical items into two separate inventories to make sure there is a good separation between the two at all times. The only way a critical item can come out of NPC inventory is if script logic takes it out or it is stolen by one of the thieves in the party.
I have a lot of talk controlled by Charm or Beholden factors, conduct that relies on our amity shared with NPC, Mindread keywords that reveal other branches of discussion, things like that.
So completing it soon is not a hoax.
The original DOS beta has been widely distributed on the internet in the past few months and people seem to enjoy playing that, so I think they'll have a pleasant surprise when they see this current version. Much that was a problem in 1998 is fixed now. Obviously. Including huge things like … all the artwork, for example. A pretty big "bug" to fix.
I've been rendering a few monsters myself with a cartoonish look to them to fill out a couple of creatures still lacking. They look okay despite being renders.