On the Gods & Heroes site they announced the game was being placed on "indefinite hold" or in other words "cancelled." Here is a highlighted version of their reasons for cancellation.:
Recently, we took a step back to evaluate the competitive landscape, the game's current state, and the overall goals for our organization... we also realize that achieving the level of quality and polish that we are committed to will take a significant investment...After assessing all of Perpetual's opportunities, we have made the decision to put the development of Gods & Heroes on indefinite hold... Moving forward, we're shifting our collective focus, resources and development efforts to Perpetual's Platform Services division and Star Trek Online, thereby ensuring that the game lives up to the high level of expectation set by the dedicated Star Trek fan base...
So, in other words they are stopping work on the game because they can't make it as good as they want and they would rather put their efforts into Star Trek Online. I am looking forward to Star Trek Online so this is great news on that front, but I was also interested in seeing how Gods & Heroes turned out. Gods & Heroes was getting great reviews and hype from gaming conventions, shows, sites, and magazines. It seems almost stupid to cancel a game with so much great press.
Well, like I said this is probably great news for Star Trek Online at least. Now I know they will have a bigger team working on it to make it great. I hope.
Now I better go. I need to stop by Gamestop to see if I can get my $5 back from reserving the game.