Tycho at Marathon Resurrection, which is a Marathon TC for Unreal Tournament being made by Team Unpfhorgiven, has put up a new poll asking users if they want M:R to have completely polished single and multiplayer play before release, or if the team should kick the mod out the door now. At the moment, this is the state of play:
As far as status...the major hurdle remains the maps. Every map that's not already done has been parsed through MMC and as such is in some state of progress, but complete maps are just about 10. Only wasps and ticks remain to be finished as far as models are concerned, and perhaps projectile sprites for them. We have some ideas for some "frills" as it were, but they are not critical to the function of the game.
While I myself are quite impressed with what's been done with Aleph One, I'd still like to see what Marathon would look like in a thoroughly modern 3D shooter engine.