So when is SE5 expected to be released?
Well, according to this thread
Space Empires V spotted , SE5 was on sale at Chips & Bits in October (Last month!). I just checked the Chips & Bits web site, and it now says "Space Empires V PC ... Out of Stock". Obviously this is a mistake!
According to this thread
SEV - I posted beside Aaron and all I got was this T-shirt , Aaron said that SE5 is targetted to come out around the summer of 2004. But I guess the situation could have changed now, and it may be later...