Yep, supposed to be. I think the last dev log said there was one intro cinematic left, the gallery and about half a day's worth of other work. The intro cinematic will probably be agonised over though, especially as Ocean has his new video cards to overachieve with ...I'll be appropriately wowed by the intro cinematic though, I'm sure.
The release schedule might be interesting as it really depends on how Ocean does it: we might have to wait until steam approves the finished version if Ocean holds onto it to generate more awareness on steam. I'd say we'll know something more from the next dev log.