Yes, the plan is a "release" once it's ready. I'd think .iso would be best/simplest. It's something we've all been kind of waiting to do, and I happened upon some software I though would work well, but it's looking like Nanner Split's got some better options with his.
There are also a few other things we're waiting on, which will probably be done soon, so with any luck, we're talking maybe about a month, but as with anything, there are no guarantees, and we're not in any huge rush that I know of.