I watched Ryan's architecture talk and am looking forward to taking a look at what is getting added. Seemed like some good concepts and refinements of what he talked about last year.
As for this project, it's not going anywhere, but it does look like a fair bit of the functionality will be made available via the RequestManager part of the new API. The ActivityManager stuff fits more in the gwt-presenter end of the list. We'll have to see how they end up working together. I suspect most people will pick one or the other.
David