Progress has been made, just not very much. So far the issues have been problems related to going from MySQL 3 to MySQL 4.x. Most of the SQL commands have been rewritten, though not with 100% functionality (mods are causing an issue for some reason), and it seems to be in better communication with the database now. There are remaining issues of connectivity, but that would appear to be more general to the FS2NetD server code itself and some adjustments will need to be made.
More time will be spent debugging the issues over the next day or so and hopefully it will be up and running this weekend. No promises, but that's the goal.
Oh and it would probably be a good idea to avoid attempting to connect until you get the OK from MatthewPapa. The FS2NetD server is continually going down and restarting as changes are made and new builds are tested. FS2_Open can crash if you happen to try and connect when the server is being shut down.