The game is done, well has been done for a few weeks. I'm currently running through the game with a list of things that I want done before it's released. I've given a build to some people and seeing how a completely new player to DT3 plays it. Especially the first few chapters. Though they do all have that unfinished version from weeks ago. (Same version the testers currently have. (No Brian, you're getting the final one.)) :P
Even before I started watching them, there's been some substantial changes to the game, specifically early on. The problem areas seem to mostly be with how some elements of the game are presented in the beginning parts of the game, not necessarily with the content itself. Which is good for me, since I can easily fix that.
A lot of the changes are things like adding sound, which has helped quite a bit with making things just feel better. That's actually the biggest thing that needed changing. (Other than the beginning parts needing a bit more clarity for some of the game's mechanics.) There's a few bugs on the list, but they're not game breaking bugs. They will be fixed though.
Overall, the game is in a good place, not to the point where I want to release it just yet of course, but it really is looking good. Watching the new players fumble mostly over things that aren't explained too well is pretty hopeful for me.
Note for those that played the demo way back in the age of dinosaurs. It has been removed again, this time forever!! Anyway, the game is much different than what you may remember from the demo. The beginning areas are actually a bit more difficult, mostly the bosses. The early bosses were pretty forgettable and have been given a bit more bite.
So when is it going to be released? When I'm ready for it to be, is the most honest answer I can give. I'm shooting for late July. (Doubt it though, I don't think I'll be happy with the game by then.) So early August probably.