I've been playing it for about a month now, and I'm firmly convinced this is a GREAT game! Certainly the best turn-based role-playing game I've found in a long time (and that includes NWN, although each has its strong spots). It's just very enjoyable.
My understanding from browsing various forums (mostly www.spacerangers2.com) is that the developer, Elemental Games in Russia, went belly-up and filed for bankruptcy recently. I've also read that some of the most recent patch work is being done by volunteers and modders, overseen by a few of the former devs (they're overseeing but not doing it).
Sadly, it's all being done in Russian, by volunteers, so there's little chance of that being ported over to English. That said, I've read that the US version 1.3 has most of the fixes included through the Russian version of 1.6. Who knows the specific there, but it sounds plausible, given that the American version hit the markets a fairly long time after the European release.
I don't know who owns the code or the rights to the title, but this is the kind of game that I think Stardock could do an AWESOME job of expanding upon.
Things that have been left out from the latest Russian version include a number of text quests (some of the quests your Ranger had to complete in the Russian version were apparently bona fide IQ tests--score above a certain level in a certain time to complete the mission!) and some other very minor tweaks to ship systems.
Having played the game for a while, I can't tell anything that's broken (excepting some confusion around when I donate Dominator parts to the good guys' labs).