On the Libbay Bray message boards the rumor for the release of the third book is Summertime 2007.
http://libba-bray.livejournal.com/
On Libba Bray's LiveJournal she posted this:
"But the big news on my block is that AGATB and RA have been optioned by Mel Gibson's Icon Productions. Here's the piece that ran in Variety this week:
Mel Gibson and Bruce Davey's Icon Productions has optioned the rights to a Libba Bray book trilogy to develop as a big-screen franchise and set helmer Charles Sturridge to direct the first installment, which centers on four rebel teens in Victorian England who gain power from access to a mysterious realm.
Charles Sturridge directed that lovely, lovely production of "Brideshead Revisited" that made me fall in love with both Jeremy Irons and Anthony Andrews, so I am thrilled he's at the helm."
So, it seems AGATB and RA will be coming out as a movies! I'm so excited!