That album has been in the works for at least 5 years, and I've heard these rumors for years.
It was originally slated for 1999, pushed back understandably for Dennis' death and then nearly taken off the table afterwards. It's good to see that Ness is trying again, but I'll believe it when they get to the Studio. They're still playing gigs all over the west coast (I saw them last month at Slim's in SF) and until they stop playing live and get in the studio, this record ain't gonna happen. They Did the Boom Boom Huck Jam last year instead of going into the studio.
I do know this, the problem is not Epic Records - Time Bomb recordings has been willing to do this album for years (they did Ness's solo stuff)...
On another note, Live at the Roxy is "Sick Boy" away from my top 3 albums of all time. How do you leave that song off the track list?