I should probably do a quick status report given that gnumeric 1.2 is about to miss its worst case deadline by a few months. Development is progressing nicely in all areas accept graphs where things are still unclear. With the hibernation of Guppi we're left without a gnome2 ready engine and will probably end up using a bastardized version of gtkextras-2 with some guppi goodness thrown in.
For everything else gnumeric is kicking butt and taking names. The XLS export is in great shape, conversion to gsf is done, and autofilter support has landed. Heck even pivot tables look possible. The new target for release is the begining of april. Hopefully by then graphs will be solved.