For me this project makes really sense knowing that all the other planet frameworks are python based.
There are not any serious alternatives for people who wants to setup a blog-aggregator. That's why this project is really cool and we oriented.
Our focus is to make a really clean framework which do one thing (Agregator framework) and which is doing this good. We are focused on the knowledge management and the scalability issues because these are more and more relevant in the web of today !
The first release 0.1 of the bilboplanet will come end of this month (really soon). But the first stable and official release will the the 1.0 so there is still a lot of work to do. Stay tuned ;)