The people over at
<BuddyPress have decided to hand the code over to the community, as they do not have time to pursue it.
BuddyPress was going to be a social networking suite of plugins for WordPress Mu and I would imagine there are a lot of people who would be keen on seeing this taken ahead.
Sorry if I am replicating information here, but this is still fairly recent news and may not have been taken up yet.
I hope a group will be able to take this on.
Many thanks.