Ready for what? I’m afraid you would have to be more specific in the info you’re wanting.
YafaRay experimental v0.1.99-beta3 is available for Windows and Linux. Please see: http://www.yafaray.org/community/forum/viewtopic.php?f=12&t=5094
About if it’s ready or not… I suppose you can try it and let us know what you think! 
Best regards. David.
Yafaray is a superb renderer and for me is the only solution if you’re on Archviz and you use CPU.
Of course it lacks some features (e.g. Passes,Distributed Rendering,real-time preview) but it’s main advantage is that it has many calculating methods which gives you greater flexibility than a brute force path tracer.
The biggest disadvantage for me is that you’ve to wait to export the whole scene again and again even for the slightest change. A partial export will be much more efficient but since I’m not a programmer I don’t what that means in terms of developing hours.
The new experimental 01.99 builds are working greatly.
Another thing that I don’t understand is why a fork (“Bounty”)? Already Yafaray has a slow development and Bounty doesn’t seem to develop any faster! Why can you just combine your efforts on one project?
Big thanks to all the people that keep Yafaray ALIVE!
TheBounty is a slowly but constant development. With a lot of new features (child hair, SSS material, material presets, fixed blend material,…) and some others features are work in progress.
I don’t feel that this is answering my question although i must give great respect to all the people putting effort developing “Bounty”. (Though I never managed to run it under Linux)
Why can’t all these features that you mention just implemented in Yafaray? Is there some serious disagreements on Yafarays development road or is forking one of the Open Source diseases?
Anyway I feel that if I continue will get off topic quickly…maybe in another thread
The question still remains, why make a fork when you could’ve just contributed to something that was already known, and kick start development? You would still get the recognition for development of the name, if that’s what you were after? Now there are two products that are the same, one left to slowly die and another left to be developed slowly, picking up where the first one left off. I’m not trying to be difficult, just trying to understand the logic.
The decision to create a fork obeys personal motives that I am not going to explain here. Now, there are two products … you choose the one that better adapts himself to his needs. Greetings.
Sometimes there’s a group of developers who, due to various software politics and ideology, will choose to fork a project with the intent of creating their own solution.
This already happened once with The GIMP when a few devs. made a fork that became CinePaint (because of the GIMP Foundation’s lack of focus on professional needs).
Part of it might be the notion of wrong priorities on the Yafaray side (which to note it seems the new Bounty project is already being developed at a faster rate).
Will there be an instance of a fork of Blender occurring, the simple fact that it’s such a big program that takes a lot of money to develop well makes the chances a lot lower than most FOSS projects.
Yes. So rapid as it allows me my little free time after 9 daily hours of paid work.
Thanks for the answers, and satisfying my curiosity.
So glad to see Yafaray is progressing, Thanks , I am eager to see more news about Yafaray.