Um, is the "fantasy film" invisible gates closing all the sudden?
While the Terebitha/Golden Compass/Lord of the Rings/Zathura/
Spiderwick/Dark Is Rising/Harry Potter/Pan's Labyrinth/Mirrormask/Beowulf released proved audiences are hungry for fantasy much as they were in the 80's(DC, Labyrinth, Willow, Legend, Dragon Slayer, etc) ...
it's not like the window of oppurtunity will vanish this year. Hopefully by Comic Con there'll be a whallop of an update.
And yeah, I would have hoped to have seen sets, props, puppets, etc by now. But they seem committed to making this thing.
I remember in 1998 when Brian Henson said they were gonna make a Dark Crystal prequel, which never panned out. They are definately much closer than they were back then