Trickster,
The answer is no, the devs don\'t know when the game will be \"finished.\" As chrischoo said, this game will be constantly evolving. There will probably be a version 1.0 when the devs decide that what they have constitutes a \'finished\' game, but things will be constantly be added to it beyond that.
Crystal Blue is slated for a December release (don\'t hold them to it, it\'s just an approximation), and will be \'playable\' with a basic combat system, items, etc.