I think BFL is trying to make ASICs, if only because they delivered previously on their promise of FPGA miners. However, I also think they ended up in way over their heads on this one. I think they released specific technical details before they'd actually validated those details with a prototype and are now wrestling with a much more complicated process than they'd anticipated while trying desperately to make their promised product into reality.
The last video I saw from them was of a prototype box generating nonces and pulling just over 120w, more than twice their promised 60w. They're more than 8 months late on their promised shipping date and I don't think the latest dates they've thrown out are anything other than wishful thinking on their part. I do think they've eventually ship, but I don't think they'll ship any time soon.
If you want to get into ASIC mining at this point, your best bet would be to buy shares of ASICMINER on
https://btct.co/. Full disclosure: I own shares of ASICMINER.