There's noone available to actively maintain it.
I'm going to attempt to build CM7.2-final when it's released, but that wont be for a while as CM7.2 is still a while from release itself.
Assuming I can get that much done (which really depends on how much the code wants to cooperate), I'm gonna try and build CM9 and see how much works/doesnt work. Even if that compiles (which will be surprising if even) I expect it will be like DJ_Steve's old CM6.1 alpha, in that nothing really worked.
I assume the qualcomm drivers will/have been merged into CM9 soon enough, which means that if it works at all it'll likely be GPU accelerated, it might even have wifi and bluetooth. But it likely wont have cell support or hdmi out. It all really depends on what drivers CM9 itself already has (as it has like half of the drivers we need from common sources such as other devices)
CM9 likely needs kernel changes/a lot of kernel stuff to really work, which I have no intention of doing.
There's a lot of 'if's in the previous statements, pretty much everything has to go right to get even a barely working at all build.
For time time being, even if we had someone actively mantaining CM7 there's not a huge amount to do except fix a couple minor things. (which we more or less have as hackfixes already)
The only real thing missing is better kernel OC support via cmsettings, some minor sensor related stuff, and hdmi out.