As this new team came together there was a fair amount of time spent simply discussing what sort of objectives we had for this mod, and how to really take it to the next level. One of the conclusions we came to were that it has to be very accurate. We've even spent time crawling over frames of animation to see how we plan to make the ships move in combat. We're striving for the same level of detail in our models and textures. As a result, we've started off slowly, but are picking up momentum now that the focus is on work rather than planning. Unfortunately another thing we decided, however, was that we really would have to start from scratch, given the wide variety of detail and quality on the models and textures, so yes everything is being redone.
Can I give any idea of when we'll have anything available for release? Not a chance in hell, but we have a pretty good idea of what it is that we need and a fairly good priority set for our progress.
Needless to say, this mod has not been in development for years. It's rather new. This is not your daddy's Star Wars Conversion. This is the next level =)