Matthew Porterfield's Metal Gods seems to be going rather well. In a new blog post, he says the production company Vox3 Films is taking on the project. The test footage here, shot on a RED camera, looks very promising.
Kentucker Audley is shooting a new feature, titled Open Five, and he's raising money exclusively through donations. Scrolling down, I noticed that this is actually his third feature, and his second feature, Holy Land, is currently in post-production.