1.4 is currently 4 days late
You can track their progress here
forge.joomlapolis.com/projects/cb?jump=welcome
They are very close. I have watched them close at least 3 to 4 bugs today and they have 3 bugs and 2 features left to complete. They just added a feature though (coolness icons for default template), so I can imagine they will be done today or tomorrow unless they keep adding features last minute that they want to complete before release.