Vd is probably going to pop in, but the game has been in development for a while, I think I first noticed it at least two years ago. It has certainly come a long way graphically, from a butt-ugly 2D game to a decent (if budget) 3D game. The core concept hasn't changed, and that is basically that of creating a high choice and consequence tactical, classic RPG in the Fallout mold. I am not active in the Fallout scene, but I know it gets regular newsposts on NMA, and of course its a center of attention at VD's former homebase, the Codex.
The quest design promises to be outstanding, and the presentation highly decent for an indie effort, so I am quite looking forward to it.