It plays almost exactly like brawl and has NO lag, which makes it much better than the craptastic Super Smash Flash abominaton. I recommend people who've never played prawl and for some reason can't get ahold of a copy of the game to play this. The maker is also working to get the online system working.
I've searched around, and the creator is known for large gaps in update periods. I believe it will be completed.
It won't. He doesn't make the sprites, he just waits for a sheet to get done, which takes forever. So if he wants to complete it, he has to learn to sprite himself.