I received and tested the latest version of the Hybrid v3.
It's upsetting. I regret having pre-sold units - it is that good. In short, I'm very happy with progress despite the latest version taking much longer than expected to be complete. You could do cartwheels with the camera now, provided you didn't do it too quickly.
The rest of the development is quite straight-forward as it doesn't involve so much research and development, but it still takes time to implement the code. In all, purchasers can rest assured they are getting something very special but it will just be a bit longer than originally anticipated.