My pesonal Opinion is Yes i believe Versus is dead and will never see the Light of Day, Which is Saddening but Im over the whole Final Fantasy Franchise (long Time Fan until 13 was released) and I kinda want it to just go away. But i would like to know if you Guys think Versus is still being made and will eventually come out. 

I would either want SquareEnix to release it as fast as possible or give it up entirely. It is a huge case of vaporware and hinders the development of Kingdom Hearts 3. SqE, do something. Goddammit

Would have been done by now if they werent fucking around with XIII-2 and Lightning Returns. Also if XIV wasnt awful at launch.

A lot of Versus staff got pulled onto other projects. Hopefully with the coming release of XIV, more people can get hard to work on Versus. Same goes for when LR is done.

XIV -> XIII Lightning Returns -> Versus -> XV

Will go in that order.

I would say no, otherwise its a complete waste of their money and our time after 6 years of progress.

the staff is focusing on FFXIV, and FFXIII Lightning Returns. Then Versus XIII will be their main focus. On that note, FFXIV ARR development team is over 300 members. No doubt Versus XIII team is included since FFXIV ARR is also using luminous engine technology.

So one Final Fantasy game made you quit the franchise? Must have not been much of a fan then. 

I feel 100% confident that its not dead. The game in its playable state looked fine (although not amazing), visually what they showed didn't look that stunning but the gameplay was there in modest form. Theres almost no reason to believe its dead when fully convincing explanations have begin to the games absence and we have confirmed news of them implementing elements of their next gen engine into the game.

-2006- what was shown was a concept trailer, there was no game at the time.
-2009/2010- portions of the developement team was shifted to help finish FFXIII and I'm sure this happend with XIII2 to an extent.
-2011- Full production finally begins as stated by Nomura
-2012- Development is partially halted to help get FFXIV on its feet. Possibly to help on Lightnings return which only has a 16month development cycle according to its target release date, which implies they'll need some assistance to finish the game in time.

So really we're looking at a game which has probably only had 2 years of full development. A late 2013 release would be plausible but not if Squares wants to get Lightning Return out the way 1st. So we're left with a 2014 release date.

Thats not really for you to say and also i dont think im really the only one that lost faith in square when FFXIII came out, just sayin a lot of there fan base was lost when they tried to cater to different audience

Agreed games that tend to take more then 6 years of Development end up being HUGE flops or really over hyped, part of me wants it to be dead, but the other part of me wants it to bring life back into a dying franchise