Well we're at 0.9, the game steadily growing by a jump every 3-4 months since the first hurdle. Each update added a waifu's recruitment storyline, plus an initial sampling of their pandora scenes. Since July last year, they'd been adding the devotion missions to the game (the somewhat equivalent of mass effect's loyalty quests). Their culminating scene is being held til the full release of the game.
Depending on how the 10th and last lady is added, the game should be complete either by the summer or fall.
Gameplay wise there's VN-dialogue sections, full cinematic cutscenes, and the gameplay is divided between SCHMUP (shoot em up) ship sections, akin to bullet hell shooters. And the other is tactical grid combat akin to the Final Fantasy Tactics series.
Fair warning though, its been stated that saves will be incompatible with the 1.0 release. Essentially the game will be in such a different state than the early access version, saves from the old version simply won't work. So you may just want to wait, since we're so close anyway.