The release scheme, at least for now, will probably be pretty organic... it will evolve as our group dynamics settle in.
If I was to make the mistake of speaking on the teams behalf without us really talking about this, id say:
We are currently focusing on getting wasteland properly integrated into Altis, however as its all open source (decision based on you guys), you can check out the progress as we go. Our first main release should be relatively monolithic, but from then on our current workflow should allow us to release much more rapidly after that.
We are doing a lot of work (and thinking) to make the new system more modular so once the ground work is complete, developing components of new features should be much more painless. It will also allow anyone to change or create new components and (hopefully) integrate pretty seamlessly into customized servers.
Best thing you guys can do to help is to actually help us develop it. Ideas, code, even just feedback all helps

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MF