Beta 1 is wrapping up. There were a few tweaks to fix a bug or two and tweak some behavior, but so far, it is looking good. The Beta 2 release will be going out this weekend for further abuse. Right now, the target is to get the app submitted within a week or two.
Things got a bit delayed by a serious system crash that forced me to have to reformat my drive and rebuild my system. All I can say is thanks be to Apple for Time Machine. While it took a day to re-install Lion, the developer tools, and restore from the Time Machine backup, it was otherwise painless and I managed to avoid loosing any data.
Remember to backup regularly!