We've not blogged in a while but there were papers at PDLI and ICOOOLPS in the last few weeks. Since this time last year we've hired three new people to the project. We're running simple web frameworks like Sinatra and simple database drivers like Redis. Hopefully we'll have a big update at RubyConf.
The JRuby wiki states: Truffle is a research project, there is no expected release date
Overall, it's an exciting project, "Ruby is slow" is an overused meme that's caused a lot of issue for me.