Sorry for the lack of info; as you guys can imagine, Linden Lab has been pretty busy.
We've switched over to a backup asset server instead of waiting for the current one to finish. At it's current rate, the current one could be done in an hour, or tomorrow; no way to tell. The backup is up and running, and nothing should be lost; at worst, some of your textures and such will be unavailable until we can pull them from the asset server, which we should be able to do after it finishes.
After doing all of that, we found a couple of brown-bag bugs in the sim code when we were testing our backup server. Those have been fixed, and we hope to have the grid up shortly.
Thank you for your patience.