It isnt going anywhere soon. I have about 125,000 words in "beta draft" form for commentary, and will be serializing it on an adult content magazine as a collaborative effort with a friend who has been working on large serial magazines on the same concept as the "Magazine of Fantasy and Science Fiction." This will be along the same lines, offering the content as a whole and finished to subscribers, and making the free readers wait for the next monthly installment.
The book is much bigger, however. I have about "one year's worth" of subscriber material already in the LJ form and will then be taking a second cut at making the text more literary. So the longer you wait, the more refined the content will be!
*maybe I shouldn't have said that!*