The "mapping" of the brain, while accelerating, has been growing at a rather slow pace. In fact one of the few large 'mapping' projects is conducted by a non-academic entity, the Allen (of microsoft fame) institute (http://www.brain-map.org/). The reason for this slow progress is the small scale and scope of most investigations. Thousands of studies are being repeated (and mice sacrificed) because of the lack of both data sharing and concerted planning among neuroscientists. The academic pressure for publishing fast unfortunately limits the scope of most scientists to projects that can bring results easily.
This new project sounds like it is the neuroscientific analog of LHC or the Human Genome Project. The truth is that we wouldn't be able to replace the LHC with 1000 synchrotrons.