Alpha 4 is the final Major test which we expect to last until the end of January which will be immediately followed by the beta release which will fully utilise the full functionality of Microsoft DirectX and will be final release quality.
I've been following this since they announced it several years back and I can't wait to see how it turns out. GPW and GPM/GPM2 were decent games at the time but it's been awhile since we've had a good racing management sim.