This is literally a frequently asked question, definitely in the top three, so here's a sticky on the topic:
None of the moderation team know Privateer's plans beyond what little has been made public. We are in the same loop as Pressgangers.
No one at Privateer who does know is talking, either because they don't know either, or because they're under a non-disclosure agreement. (Okay, they definitely are under an NDA, signed upon being hired, but it isn't necessarily the reason for not saying anything in this particular case.)
We are not going to delete posts just for asking or complaining, but will delete abusive or spammy posts just like those on any other topic. But keep in mind, if the board gets dominated by "ANSWER US, PP!" posts, it's going to tend to drive people away, which doesn't help.
Yes, being in limbo sucks. But it's not as bad as being outright cancelled, and so far we've had no indication of that either.
UPDATE: As of February 2013, the official response from PPS_Simon is that there simply isn't any news to tell or withhold. It's pretty much on cruise control.