It looks like they are finally ready to let the masses test out Fighting is Magic! At the upcoming Canterlot Gardens convention in September, a hands on demo will be available for all you crazy fighting game lovers to bombard each other with party balloons, book lasers, and floating death beads. On top of that, they are holding a full on tournament for the game. It sounds like it's getting really close to release! I can't wait!
Update: They just dropped yet another bit of information. It looks like they will actually be showing at the fight game fighting game convention/tournament, Evo. That is straight up amazing.
Update 2: And a quick clarification - Pon-e3 is an online streamed convention, so everyone can join!
Head on over to this page for the full FAQ and press release on it.