iPad app is cancelled. No new versions of Sparrow unless required for security reasons, if that. For all intents and purposes, like other apps acquired by Google before it (such as SageTV), Sparrow is dead.

The only thing that would make it "dead and buried" is if they removed it from sale/availability for download. Like they did with SageTV.

The indie app landscape is starting to look a little troubling, as Facebook is also on a roll with similar acquisitions.