Just flicked through this weeks copy of Flight International, and one of the articles is "Boeing keeps faith with Sonic Cruiser"
It goes on to say that "Boeing remains commited to its high-speed Sonic Cruiser study, despite continuing market uncertainty over the projects viability. A decision on its future will be taken late this year."
At the rate the airline industry is recovering (at least in Europe) i'd say the Sonic Cruiser is probably a "go for launch", especially as it's due for entry into service in 2007/8, by which time the airline industry would have had a lot more time to get back together. Besides, you only have to look at the amount of airline interest to see that this airplane would be a huge success! Also Boeing have invested a lot of money into development in wind tunnels etc, i really don't think this is an attempt to steal the show from Airbus.