I emailed Val at Cimarron and here is the response:
"We are still waiting for the gun to pass the ATF drop test. If it passes, and it should, it will be early to mid summer."
BTW, while I see the banner on their website says 45 Colt, 44-40, and 44 Russian / Spcl, I have noticed that there are no 44-40 currently on order. Also, not many of the 5" models, so if someone wants one of those I'd suggest getting on the waiting list.