Was just reading some of the most recent comments. Squadron 42 probably should have been released by now. Normal development time for a lot of big games is 5-6 years. Kickstarter for Squadron 42 was 2012, so this should be the year it is released. However, we see very little regarding the game in the past 6-12 months so who knows. Last thing I read was that Chris Roberts was not happy with the games state / mechanics and a lot of stuff had to be redone. This might delay the release date but who knows, maybe it will lead to a better game in the end. The kickstarter was for a game called Star Citizen but as stated in a news letter, the single player game was renamed to Squadron 42.
As for Star Citizen, this will likely be another 5-6+ years. I would probably start from early last year which is when they started to do more hardcore work on the multiplayer game. The multiplayer game was not promised in the original kick starter program. This is an additional game promised to be made after the single player game. So in a way we shouldn't expect the multiplayer universe to be out until probably 2023 or so.