We've had a lot of people asking us when the mod will be released. Our answer is, and will always be: "when it's done".
So, when is it done? Well, we're planning to have at least one original game mode in the first release. Also, we want the models finished mentioned on the site. We'll add new weapons (couple of models are already done) and two or three maps. Another important feature will be a whole new HUD - but we're not really sure about that design yet, and we really should focus on the gameplay itself some more. Also, we're hoping to acquire our very own theme-song by means of a songfight.
I'll mention this just to be safe: this mod will be a third-person mod. It's truly a pity that Valve has failed to release decent third-person code for HL2DM; the third-person script needs a whole lot of tweaking still.
Furthermore: we have two people who're coding actively (well, more or less) at the moment - wwtMask and me. Coding is truly a whole lot of work. Taking the enourmous complexity of Source into account, you can imagine we're both still struggling. I will take this opportunity to point out that it would help a very great deal to have a more experienced coder as a teammember. So if you know of such a person: contribute to this mod and ask them to join us!
Keep a watchful eye on our site and the dev journals, we're posting most news there!