It is currently. Previously I was doing freelance web development but I haven't taken on a job in months now.
I have source that tells me that they're really going to be cracking down on the "big 5" in the community guidelines. I'm already under scrutiny (it's still unclear to me whether I'm cleared to post anything yet, waiting to hear back from Trust and Safety.). Even if I weren't, I strongly suspect my suspension was the result of someone vindictively reporting me and have no reason to think he or she wouldn't do so again. Additionally, since I announced the changes I've probably received 25-30 messages from irate TP players who apparently think I'm scum now.
In other words, I think thorough adherence to the community guidelines is advisable.
That said, I really think many people are overestimating the impact the changes will have on the game. Pills are gone, but at this point they were basically just shortcuts for +rom anyway, or a grind to content I'll fit in some other way. Blackmail BJ is gone(but not consensual BJ) but in retrospect I think it really clashed with the tone of the game anyway. The other changes are largely inconsequential. Mostly just nominal things like "daughter" -> "stepdaughter", "high school" -> "junior college" which could probably be modified by some nefarious modder (I do not endorse this, nefarious modders) if it really matters to you.
As for the ETA, I don't really have a good one at the moment. I was kind of a wreck during the suspension and didn't get much done other than checking my email constantly and emailing everyone I could think of to email. Now I have to go through the code making compliance changes. I realize it's been a long time since 1.62, but 1.7 is going to feature 2 of the highest quality interactive renders I've produced, and I've recently decided to add a new scene, perhaps partially animated (unless I go nuts and decide to do a 3rd full anim), that I think most of the fans will thoroughly enjoy.