Hi,
As of now I'd say I'm halfway there, I want to say first week of August. Buuuut, I have a history of pushing it when proofreading and rewriting entire scenes so take it with a grain of salt and expect it in the middle of August.
As for catching up on 0.5, if you're going Mike's route I'd say go for it. There are some small changesto Mike's route in 0.6 but nothing story changing, just adding more detail.