Just found out they are doing it.. I've seen ep 1 from them, and It looks to be a good job... video looks good and I didn't see any weird translations..(didn't look for them, though)
TBH, even if the subs prove to be below avarage/poor, I'm still going to watch it. 0079 is the only Gundam series I didn't see yet. (Apart from the compilation movies). I refuse to watch the dub, no matter how good it is supposed to be.
So I can only hope that they will continue releasing them. I don't care if it takes a year or 2, as long as they finish it.