Well, there is no real answer to that question. I haven't really decided how far I'm actually going to take the project. At the moment I'm working on the first and second episodes... that's not to say that I won't be doing more, just that I'm trying desperately not to bite off more than I can chew. If the fan response to the first two is good and there's a demand for more I'll surely continue the story. Hell I might even do it if nobody likes it anyway. It's just all up in the air right now.
As for how far along I am... well, the scripts are done. The concept work on the visual styling is done. And most of the 3D models are built. I had alot of stuff animated on the first episode, but with some new revisions I'm implementing I'm going to have to redo most of it. The pace of my work has varied alot, seeing as I've got a life aside from wing commander. But a summer release is likely.