1) It sucks.
A) It should work on Win32, X11, and MacOS (though I haven't successfully compiled it on MacOS, because, Developers who develop software for MacOS, have broken their own software, on MacOS).
We're on Version 0.4, we have been through major code changes, scrapped most versions, and made many changes. What's posted on google code (goto http://www.swift.ws to find the link, the 0.99pre T1 link) is the newest build released. Yes, i'm aware it doesn't display images, It's a fixed bug, It hasn't been a fixed bug "released to the public yet". It infact, does, display images. However, the latest local builds I have, do not accept form text inputs (a bug I myself am working on, in a fork of QtWebkit I'm working on, the devs on that are lazy).
If you want a new release, ask. I would like to start a blog here, if you don't mind. I would like this forum renamed Swift, if you wouldn't mind. If you want to know somewhat of the popularity of the project (and my blog aswell, where some updates go about the project), see http://www.swift.ws/bbclone
If you want the sources, here's all you need to do. You need mercurial, MinGW, a build of WebKit (contact me if you need one), and Qt 4.3.2.
CODE
There are no configuration scripts yet, and building is not gaurenteed at all times. It is primarily targeted at win32. If you have any bugs and/or requests, file them at http://abugslife.swift.ws.
Also, in my spare time, I'm working on a Qt based IRC client, based on libconspire, which in turn is based on XChat CVS. No releases are public yet, as I haven't done much yet.