Sadly, some instruments do take a very long time. It isn't always obvious why. There are actual humans at work here, and there are times when certain projects do not receive attention, and there are times when the attention a project receives isn't obvious in the build record.
2009 was quite a tumultuous year for many of the people that work here. I choose to not go into details, but it's important that you know there's a reason that some projects that need input from everyone had not received the attention they should have, including Austin's bass. I am sorry for this.
I'm happy to report the circuit redesign is complete. I'm glad you had no problems with your Classico, Jeff. Since they are single coil pickups, they suffer from the same problems that other single coil pickups (like Series I/II) suffer. It's not to change the tone or to add functionality, it's to remove directional and high frequency noise from the system. So this one will sound the same, but in high noise situations, it will be quieter.
The peg had been a real problem. Again, I'm glad you were happy with the peg on the your Classico, Jeff. We were not, and some other Classico owners were not. It wasn't adjustable except in 1.5 increments. It was sometimes difficult to push the little tabs in to release the lock. It sometimes got cocked so it took a good bit of jossling to right. It sometimes rattled inside the bass if it wasn't extended more that it was retracted. The new design is completed for the peg. We're just trying to decide where to place the control for the continuous adjustment.
As far as the building, when that gears up again, and it will in the very near future, Kris will be making it, and he is the one who taught Chip and others how to make Classicos.
Austin, you have done nothing to impede the progress of this instrument. I repeat that I'm sorry for the long delay in updates and progress.