Sorry for reviving an old thread, but GPL is a terrible license.
If he ever were to release it, it would be much better to do so under a BSD,ZLIB,MIT etc.. license. Heck, even the WTFPL
(Do What The Fuck You Want To Public License -
http://sam.zoy.org/wtfpl) would be a better choice. I am not going to debate the many legality issues with GPL
(especially version 3) but rest assured, any sane commercial company would treat your code as with the plague.
Personally I have thought about this too, Pelle is after all only one person and it would be a terrible waste to loose such a great product due to an accident etc..
I can totally relate to him not wanting to freely release something he put so much effort into (I have such work as well) unfortuantely I am not as brave as to release it
freely as he did *kudos for that*. But I think that one way to go, could be the Blender way. That is, having the community buy (€100,000, like for the Blender release) for it's release.
Pelle would get some well deserved money, and could be the head honcho as Ton Roosendaal still is for the Blender project. It's a win win for everyone I think.
Just my thought anyway.