Update: We've set a very loose timeline to get us toward a December 1 open date. Progress has been very fast, and using the FFG Star Wars system Faraday already had installed (and has quickly tinkered whenever we found something we didn't understand) has been very simple. Customizing Ares to look and feel and output information we want has been very straightforward.
I also want to add: there's no bells and no whistles. Our system has chargen, sheets, dice, XP, story points, and whatever else is built into AresMUSH. That's it. This game will emphasize stories and RP, not automated systems, minigames, etc. Combat will be done like on a pen and paper game, without automated NPCs or any such thing. No coded space flight (and, really, most of the game will take place in one small space), no dog fights, no... you get the idea.
That said, we are still discussing how to handle aspects that are easy to track in a tabletop, but not exactly easy or balanced on a MUSH. Things like, how do I buy/upgrade my spaceship. We'll get there! I'll add that we are fixing to learn Ruby and Ares to make some tweaks, but that's way down the road talk.
For anyone that's excited and wants more detail, in a week or two we're hoping to show off the public wiki which will help people that are planning characters.