Getting into the "Blog" area a bit late, but that's alright. You can view our progress to date on the RepRap SpoolHead forum, and our wiki entry.
To begin with, I'll post some catch-up material here...
I'm Jacob Bayless, and my team members are Mo Chen and Bing Dai. We're 4th year Engineering Physics undergraduate students at the University of British Columbia, and this is what we have chosen for our project course this year.
One of our goals is to participate in an open development environment, which drew us to the Reprap project in the first place. This means that when we're finished we'll release all of the documentation related to our project back to the Reprap community under an appropriate license. We should be finished this March (the 26th), according to our development schedule, with documentation released by April.
Of course, we'll try to keep the community up-to-date in the meantime as development progresses. But we're facing tight university deadlines for this project, so maintaining regular progress reports here will probably not be our first priority (until we're done.)
But feel free to ask any questions about the project, and we'll answer whenever we can!