I wouldn't announce anything either. Announcements on pending or in progress projects creates unrealistic expectations from a consumers point of view.
On one hand, some consumers (like myself) like to know about such projects and that they are moving forward. IO personally don't care how long it takes as long as it's a quality product.
On the other hand, other consumers will complain about the entire project, ranging from:
- how long it will take
- how long its already been in progress
- how long it's going to take to finish
- why it's taking so long to finish
- what features/options will the project have
- why won't the project contain certain features
- unfair comparisons to competitors products
- cost
...and the list goes on. I'm actually pleased Umberto gives updates on incomplete projects.
Just my opinion...