So, "pretty close" turned out to be fairly true in the sense of the number of work-hours that were left, but way off in terms of when the actual release would happen. I'm happy to announce that after a super long delay, 1.2.9 has now been officially released, and we'll try not to have such long release cycles ever again.
Hopefully, this will be the last release in the 1.2.x series (no more features will be added) and so work on the 2.0 version can begin again (it was actually started years ago), and there are some cool things in the making.
You can see where the 2.0 release is headed here: http://bugs.lifetype.net/roadmap_page.php
though we'll need to go through that list and see if anything will be removed from it.