I have a feeling that it will be renamed or go the way of the 800 series .22 conversion kits. Drum up some buzz for the product and shelve it when it was suppose to release. If there's one thing I wish Taurus would do, it would be to minimize their production line and put clear focus on their upcoming models. It usually helps to bring longevity and consistency to production, like Glock and a few others have done. Just doing that would bring their reputation up significantly in the firearms world.
From the picture it looks like the slide will ride on metal half the length of the pistol - as opposed to riding on four small metal inserts.
Add to that the Glock takedown and (pretty please!) the sweet PT709 trigger.
If that's the case, I'm pretty sure I'll be getting one.