Here's what I think about the post you did, and I'll answer the questions you asked 1 by 1.
- Was there enough information provided? Too much?
I thought it was fine. There was a good amount of information provided, much more than I really would have expected. I don't know if giving ETA for project completion is a good idea, because things do happen to slow down projects...
- Is this useful for players to see? Useless?
Well, useful in what way? Was it useful in making people feel like their involved and informing the playerbase that things are going on from the other side of the game. Yes.
- Should there be news more often? Less?
Well, this is really the first news post of this size and with this much detail. It's definitely nice to see, maybe once a month, or every 2 months would be fine? Just an update to say "Here's the progression on this project... Undertaking this project... etc." The old news posts of bug fixes etc are good for day to day, but an update summary was appreciated by me at least.
- Have we missed the point entirely? Nailed it?
I think this was a great start, and in a way, it keeps on the players on level ground. It's not going to be only the people who talk to wizards or admin that will know what's happening, everyone can feel involved in some way, and if there are any concerns, it will help to let people know that things are progressing well or aren't progressing well at all. Either way, I think people like to know what's happening in a game they devote much time to playing, and something of this sort every so often is a great way to keep players interested and make them feel anticipation for the new projects etc...