Especially as the game's engine, the now well-known HeroEngine, has been licensed by BioWare for this Star Wars game you might have heard about. The HeroEngine development has caught on like wildfire, and even Simutronics's own Neil Harris has said to Massively that the game is on the back burner while the engine development is in the forefront.
But, they still haven't left the game entirely in the dust. They've said that the game still has a long way to come in terms of content and polishing, but they're still letting people log in and play -- even when they're not around. The website even features in-game footage and screenshots, a bit more than Duke blowing some smoke at the camera and uttering a classic Duke-ism.
With all that said, Hero's Journey hasn't been pressing for release or gaining undue hype. It's a game that has been sitting in the corner, lurking, waiting for the right moment to strike. Plus, with most vaporware, we're usually left hanging -- wondering what exactly those developers have been doing with their time when they should have been developing. With Simutronics, we know exactly what they've been doing -- making a great engine. So that leaves the question, is it still vaporware if we know we shouldn't expect it?