I've avoided posting here to avoid wasting anyones time with another, "Coming Soon" post. Instead I'll summarize what has come along and when you can likely play the first build.
Combat, levelling, perks, equippable items, growing plants, and consumable items are all implemented. The game has been heavily optimized and so there will be no backtracking on that front. The players base character has been finished including his walking animations. You can find more info on that HERE.
Multiplayer is working for just about everything aside from combat and AI (both of which have just been implemented). The next stages of development include finalizing the multiplayer, including PvP combat, and fleshing out a ton of biomes for the game. Unfortunately I'm bottlenecked until the art becomes available to me and so the earliest experimental build likely won't be made available for at least another month, or so I estimate.
When the latest build is finally made available you will be given access to both the server and the client executables meaning you can host your own servers for friends and/or massive public servers for complete strangers.
Dev Blog: http://www.seabassandgazellestudios.com/pe_blog
(PLACE HOLDER ARTWORK)