PT Boats: Knights of the Sea...Is it going to happen??

[bigbossmalone]

Hi, good people of 1C
Guess my heading pretty much covers my question.
I've read conflicting reports on this game - first that it wasn't going to happen, then that it is.
Could you shed some light on this? I've just read in my regular PC mag that it is due for release in Q4 of this year?
I also remember in an article from over a year ago that it will feature aircraft models from iL2 - is this so?
Any news would be much appreciated, thanks.