We have a list of features that we are working on for launch, and when we write enough code for all of these features to be 100% working, we will consider the site "feature complete" and that's when we'll launch.
Since we're also working on other things, like maintaining AG2 and other side projects, we don't have a firm, fixed date for release.
Right now, we're aiming for a release date in the first half of 2011. That means it could be as far away as late June, but hopefully not. )
The next beta codes will be released on Tuesday June 14th, 2011. If you don't receive your code by Thursday June 16th, you may Email me directly to look it up for you.
Update: there's no beta release today. We've been working on other systems-related work, and rolling out features on AG2 (this web site) like the "You may also like" stuff, as well as other things we'll be rolling out to AG2 soon.
Because there's no beta release, we're holding off on invite codes. Apologies to those who were expecting them today.