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. london.domain.com; paris.domain.com 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?

Thanks
S.