According to the blog, Cave Story fans will likely be playing the game by the end of April or early May if all goes according to plans. The team is currently putting the finishing touches on the game and the online manual that will accompany it when it's released on the WiiWare service.
The team is also working to fix any bugs and iron out the final kinks before the game will be submitted to Nintendo for approval.
You can check out the Nicalis Blog for a detailed account from the various development team members on the current state of Cave Story.
We'll have more information on Cave Story as it become available as well as a full review once the game hits the WiiWare service. Let's hope the wait won't be too excruciating.