no there is no advantage of direct output to cubical (I think there is only one app that supports this), stitching and blending can be done better in spherical format (especially when using multiresolution blenders like smartblend or enblend)
I would say very close

the most parts are ready now but some other bigger and smaller parts (e.g. updated plugins, documentation, ..) are not finished yet and still need some time, but I'm trying to release a beta version (without plugins, docu) very soon.
(without answering mails and forums it could be done quicker, that's true
)
best regards,
Klaus