Haba
Harbinger of Decline
I wouldn't be surprised if the Xenonaut guys used the new game as a pretext to throw in the towel, when they lose interest. On the other hand their screenshots look too advanced for that. But it has happened before http://ufotts.ninex.info/
I guess it's wait and see. If this game (Xenonauts) gets finished I will definitely buy it.
But right now I have the feeling they have no idea when they plan to finish it. I don't think the game will be released in 2012. Somehow I get this vibe that even in 2014 it will still be 'coming in about six months'.
If you want to finish at a certain point you don't make vague promises but a definite schedule. You may fall behind a few months, But if you fall behind years there is something wrong.
The dev quit his day job to focus on the game 100%. So I doubt he will be throwing in the towel any time soon.
Though funding is a question mark. There is apparently a Kickstarter fund coming in to get some dough for additional polishing, so we'll see.
You do realize that even projects with hundreds of millions of budget have trouble making "definite schedules". In Xenonauts case the release date estimations are more than a little difficult to give, since almost everything is outsourced and is dependant on freelancers.
If you compare this project to say... Dwarf Fortress, I don't really mind the fact that the release is getting pushed back and additional polish is being put in the game. There is a constant sense of progress, fresh alphas coming out frequently and the dev has rather realistic view on what should be added and what not.
It is once in a decade kind of a game anyway, so they might as well make it as good as it can be.