Next version of DIRECTORY questions

I've seen the new version of directory mentioned on a few posts and have a few questions about it.

1. When will it be released?
2. Will I be able to have a different directory on each sub-domain eg.; etc?
3. Will it be possible to have buddypress set up on the main blog and the directories on the subdomains?
4. Will it work on mobiles, iphones etc?