chill out man -- rlyeh's been busting his ass with about 80 or 90 emulators the past several months, and releasing them pretty consistently. I am sure it will surface when it is ready.
it kind of sucks because a lot of teaser shots were posted months and months ago, followed by a video here and news there.. but judging by the guy's track record, he gets his sights set hardcore on something and whittles away at it sooner or later. so just be patient, I am sure we'll see it in due time! (maybe months and months yet.. but who cares, if it comes out in pretty good shape then it will be well worth the wait!)
and if not, well, buy a different system..