So, I happened to notice that the AUG 2013 report is now available.

https://vircurex.com/welcome/investors

What does it mean for depositors (user's accounts) that the exchange is reporting a book value of -931.95 BTC ?

Still cannot find any of these documents at https://vircurex.com/welcome/investors....

JUN 2013
JUL 2013
AUG 2013 <- Quarterly statement

Interested in how much of the deficit has been paid off thus far.

Where can we find the JUN 2013 monthly report?  Interested in how much of the deficit has been paid off thus far.

I believe that Ripple is supposed to compete with Paypal and get rid of the long one-block confirmation of BTC.  One blobk in BTC can take over an hour (10 minutes is just average time). With Ripple the transaction goes through immediately. 

As for the value, it is anti-spam.  So, what is the BTC cost of transactiion for anti-spam?  (0.001 BTC?? I don't know)   Ripple should be the same.  If values stays low (as it is now), an attack will occur and require a increase in the fee to make attack costly to the attacker.

We'll just see how it all plays out.  Fun stuff!!!

I'd suggest waiting for another giveaway.  The only way people will use it is if they have an interest in it.  And, they have said there will be more giveaways in different methods.  There are billions waiting to be given away.