Just informing that this project is now finished at the "3.4" version. I just tried it for the first time and I felt like I was playing Tie Fighter, it's so professionally done. You couldn't tell it's free total conversion from the graphics or the size of 2 GB.
Only the voice acting isn't quite up there but I've heard worse in commercial games.
So if you ever liked Tie/Xwing/Freespace/I-War or B5 generally this is definitely worth getting.
You may need to install OpenAL, the game itself is here: http://www.mininova.org/tor/793103 and players/devs at http://www.hard-light.net/