I've been working with several Banshee people this week and we finally got my patch committed. All this patch does is provide a managed event that acts as a PCM and spectrum data source. While simple, it is a required building block for the upcoming OpenVP extension.
Right now I am getting ready for the 0.0.1 release of OpenVP. The version number is intentionally scary; the API is far from stable and will be changing rapidly. The purpose of this release is to provide a stable target for the Banshee extension. Hopefully getting this in Banshee will generate interest in OpenVP, as well as giving Banshee some cool eye-candy. Everybody wins!
My understanding is that after OpenVP 0.0.1 is released and the Banshee.OpenVP extension is finished (it's proof-of-concept quality right now) it will be absorbed into the Banshee source tree and maintained over there. Which means it will likely come with Banshee 1.4 by default. Awesome.
(Oh, and OpenVP has migrated from my personal Subversion repository over to its own Google Code project.)