Last I heard was the PDC liked the design but did not like the art cube. But, I agree, any new project in Portland is most likely on hold due to the economy.
I hope they never change the front. I don't mind increasing expansion, but I think fondly of the junky original SE corner of the store.
It has a different owner now, so not really the same store. http://en.wikipedia.org/wiki/Powell's_Books