The development cycle of this project should see a decline is time differential between the Ubuntu releases and the LMCE releases. This system is being converted from the PlutoHome custom system that is/was to a native Kubuntu distribution. As would be expected with such a daunting task, there has been a delay. Consider also the vast amount of changes that are being made to the code base to fix problems and add features. Native VDR integration, phone provider additions, mythTV fixes, system operation glitch fixes, Insteon, X10, MAME, etc.
I believe the main goal right now is to get the code to compile on a 7.10 install before moving on to 8.04 installations. I'm not sure where any stop-loss on the process would be placed if the task crept on too long. I suppose you could always try the beta version of 7.10 http://wiki.linuxmce.org/index.php/Version_0710
to test the feature set to speed up the process.
Hopefully that catches everything.