The majority of the Brawl+ crew is now working on Project:M, with a group of individuals from the Melee community providing input. Its not even close to being finished yet, but I believe it has the highest potential of all the projects, and many of the problems people have with the alpha are already fixed or are being worked on.
Brawl+ was my favorite back in the 4.0 series. After that I left the project and others lost interest. Its not as different from Brawl as it was before, and I do believe its gone downhill. Not to discredit it, its still pretty close to its initial premise which I think is less of an issue to fulfill in the rest of the projects. So its kinda held back because of that.
I really don't see what people see in Brawl-. If I wanted 0-death combos I would just play 64, but Brawl- leaves in all the bad things from Brawl and makes things even more tedious then before. Its just a gimmick game that will make you angrier the more you try to take it serious.
I think the way Project:M handles things has been nice so far. Its been smart about changing what characters they have touched, and are taking their time with characters they haven't. Theres also less room for flakey changes. To be honest, what ruins every other project is the influence of Brawl players, and Project:M reaches for the other spectrum. The more you get rid of that influence the better it will be really.
BlazBlue is a bad game.