Yep, things have been slow.
My initial concept for project support was to have a fairly typical, visual studio style implementation, with a tree control on the left. Sublime Text is implemented with a custom GUI toolkit, and while it supports tree controls, it's very basic support, and doesn't have the features it really needs to if it's going to become a core part of the editor. I've been looking into fleshing out the GUI toolkit, determining exactly how I want it to work.
Recently, however, I've changed tack in how I want project support to work. Tree controls really don't belong in text editors: they encourage using the mouse to select files, and are generally fairly clunky to navigate via the keyboard. I'm going to try a more visually minimalist approach in Sublime Text, with only a list-filtering approach to opening files within a project. A slimmed down, pre-project support version, will be in the next beta, so you'll be able to see what I'm getting at there.
This is somewhat indicative of where Sublime Text will be going in general: there's going to be less in the way of GUI controls, and more of a trend to keyboard only support.
Next beta will be coming along soon, hopefully this weekend.