It's complete inasmuch as coverage of the SBLGNT is 100%. In other words, the conversion from the UBS text to the SBLGNT is done.
What is still happening slowly (and on a branch—the Jan 2011 date you mention is only considering the master) is me merging in Dr Robinson's morphological codes based on Ulrik Sandborg-Petersen's Tischendorf text. On that project, I've done a first pass at all but the 4 largest books.
After *that* my plan is a new parse code scheme that is a superset of the data I have which more clearly distinguishes morphophonological, morphosyntactic and morphosemantic properties.
So lots of work on my part to get to where I eventually want to be, but the base SBLGNT with morphological tagging is done and usable. It's at least as done and usable as the original CCAT-based version of the MorphGNT database.
Prompted by this thread, though, let me make a little more formal a release (tentatively 6.00) this weekend.