Developer Andrey Izrantsev is quietly improving his V-Ray/Blender integration script, and has recently released an update for Blender 2.6. I talked to Andrey about his project.
The status is pretty good. We have about 90% of V-Ray Standalone features supported
Is this a commercial or a free project?
It's a free GPLv2 project. I plan it to be some kind of commercial or based on donations, but user interest is very low (about 10 active forum users). So I'm coding it just for fun now =)
What is the current status of the project and what are the current capabilities of the script?
I'm coding it in my free time and basically the status is pretty good. We have about 90% of V-Ray Standalone features supported. I even create a free (but not GPL) VRayProxy generation tool. Just look at the gallery.
The project consists of an exporting script and a special build. Special build contains a custom operator for the multi-threaded mesh export - about 20 times faster then pure python mesh export.
What are you planning to add in the future?
Currently I'm working on some advanced standalone support including realtime update. This additions will make user interaction even more faster (only changed data will be reloaded, fast scene loading/reloading without exporting to files). I also plan to add stereoscopic features and add all missing controls (mainly for lights and textures).