It was never vaporware. They just stole the source code of an open-source emulator and made wild hyped claims on the speed of it (aka, "80% emulation speed!" then when confronted, "er, yeah, well, it's 80% speed if a 3 GHz P4 = a low end G4").
I just thought people who wanted to try this, would like to know. (When it comes out). I'm going to go see what versin PearPC is, I think its 0.31 still.