Just a short note on what we'll most probably end up doing and in what order.
freev is currently designated Pre-Alpha (p). It will most likely remain that way until we have all the basic, non-networked features implemented to our satisfaction (ie, much like Ambrosia's EV, but with no content like storylines, meaningful systems, etc).
At this point Alpha (a) stage will commence. We'll stay Alpha until we're major-feature-complete. Basically, that means the MMORPG elements will be in place.
Next is Beta (b). Beta stage will be for squashing bugs and becoming fully feature-complete.
When that happens (and we think we're ready to release), we'll put out a Final Candidate (F). At this point, we'll be ready for testing en masse, and only when we're really sure that we're quite bugless will we go 1.0.
Random thoughts. Probably not useful.