so, when will the sec get the rules done?
The last thing anything near official said "no earlier than 3Q 2013". Most in the space have concluded that since there's so little activity on the rulemaking occurring now this simply won't happen in 2013.
What is happening is that they are getting the process meted out using accredited investors and then when the rulings come out these companies in the crowdfunding space then will hopefully only need small changes to be compliant with whatever comes out the SEC's pie hole.