ELMS Alpha 3 Distribution was released today. I also shot a bunch of tutorial videos, cleaned up the issue queue on d.o., added some new known issues, and put the platform out there. If you liked what you saw in alpha 2, alpha 3 will hopefully blow you away. If you didn't like what you saw, alpha 3 will hopefully blow you away too ;)!
Download -- http://drupal.psu.edu/content/130
Tutorial Videos and Installation Guide -- https://elms.psu.edu/node/798
ELMS issue queue -- http://drupal.org/project/issues/elms
ELMS Home -- https://elms.psu.edu/
It has some issues and could use some UX work but as a whole I'm very happy with where I've been able to take it so far. If you are a developer please tinker / add themes and see what you can do with 'er (schedule builder and other components are seeking to be theme agnostic). The public / private demo spaces will be updated next week to reflect the distribution's release so download and play away!