We have starting development. There is not a set date when a beta will released, but it will hopefully be in spring 2007.
Some things you might expect in the release:
Weapons
|-Pencils
|-Fists
|-Darts
Tools (for distraction, etc.)
|-Paper Airplanes
|-Spit wads
Character Models
|-Basic boy
|-Basic girl
We will only have basic textures that will be upgraded to higher definition later. If you would like to help us out, look in the help wanted section. More will be added later.