PP's vision for this project was to have a course creation tool, a playable golf game/sim and also an online portal of sorts where folks could gather and play tournaments/careers online.
Whether this is still the case only someone from PP can answer (probably be AJ, MJ or Erik as no-one else from PP seems to post here on site).
There have been no confirmed release dates for any of the software associated with the project. Course Forge and Terrain Importer are being held back as they are not considered fit for release at present. Work is still slowly progressing on the actual game itself, although they do seem to be making progress with ball flight physics.
We all wait with baited breath for the next update, whenever that may be.