We feel ready! We've been working on StatusNet 1.0 for more than a year, with the first alpha and beta release happening earlier this summer. We've done bug-squashing and hacking and GSoC, and we think it's ready to go.
Because there are major changes to the data structures, we'll be doing a significant amount of downtime over the weekend, starting Friday 9/16 at 1PM EDT. Our expectation is to be back online by Monday morning EDT.