Did you see their road map? Here you go:
Version 0.1 (Prototype): July 6th
Version 0.2-M1 (ODF->OpenXML First Milestone): August 10th
Version 0.2-M2 (ODF->OpenXML Second Milestone): September 8th
Version 0.2 (ODF->OpenXML Final Release): October 5th
Version 0.3-M1 (OpenXML->ODF First Milestone): October 5th
Version 0.3-M2 (OpenXML->ODF Second Milestone): November 2nd
Version 0.3 (OpenXML->ODF Final Release): November 30th
Version 1.0 (Plugin Final Release of Add-in & Command Line Translator): December 30th
Version 1.0, "This release will the final release of the project. This release will include both ODF to OpenXML and OpenXML to ODF translations. This release will be focused to implement all the end to end scenarios, code signing, packaging, localization etc., This release will be focused on translating Annotations, 3D Shapes, Embedded Images & Objects and will also implement post/pre processing in order to translate scenarios that are not compatible between ODF and OpenXML specifications."
Irrespective of holiday season they have to work a lot to release Version 1.0 final on Dec. 30.
They've got a lot of things to do, especially on Schema Conversion.
If you like, help them :)
OpenOffice.org welcomes Microsoft's tentative moves towards OpenDocument