There's some new info about this game on RPG Site that I think is interesting. I do think the retro game field is pretty damn full already, so ASS&H is already fighting an uphill battle.
This game appears to offer a lot of magic using classes, at least more than I would expect from an S&S game. Not sure if it will help or hurt the system overall. I also think the subclass Legerdemainist is a terrible name, with no basis in any S&S books. But it appears that it will be staying.
Ghul does make an appearance in the thread and allowed Benoist to post a first draft of the Hyperborea map, which looks pretty good. Anyways, this game has been in development for a long time, so hopefully it will knock my socks off.