Everything it set out to do (basically, it started as an ambitious Open Source effort to replace Exchange, though it evolved over time into a P2P something or other and now appears to be a really complicated todo list manager) has been replaced by web-based tools. Chandler seems to have a web-based version...but it's not the focus, and so it will never gain traction.
So, basically, a six and a half year long project has produced a todo list application. I'm happy that they've finally shipped code, and I hope it signals an end to the crazy tilting at windmills that all of the folks involved have spent so much time doing. Someone should have pointed them to http://bikeshed.com/ years ago.