EMC2, the company founded to advance Dr. Bussard’s fusion technology to a practical state, has been flying so under the radar that you really have to hunt to find out what is going on. They are still moving ahead and the technology has not hit any major road blocks that I have been able to find out about. The US Navy ONR is still funding them and is the reason for keeping the profile low. This bit on Wikipedia is the only bit of really current news I have been able to find:
During 4Q of 2011, EMC2 modified the electron injectors to increase the plasma heating. The higher plasma density in WB-8 prompted the need for higher heating power. They plan to operate WB-8 in high beta regime with the modified electron injectors during 1Q of 2012.
This game is still afoot.