Firstly, I know there are many of you desperately trying to get the original "PovoMac" to work with Mountain Lion (10.8). As much as I want to assist you with your struggles, I can't. Unfortunately, I no longer have access to the hardware in the original "PovoMac" and I cannot replace it directly, as the GA-H61M-D2-B3 has been superseded by the GA-H61MA-D2V in Gigabyte's motherboard line up and is no longer in stock within Australia. The original "PovoMac" was intended to run Lion (10.7) and — at the time — I couldn't anticipate compatibility issues with future OSX versions. However, "Mefin2" appears to have come up with a decent solution.
Secondly, there isn't much to report with "PovoMac" 2.0... yet. The reason for this is because I was waiting to see where the chips fell in regards to the "Ivy Bridge" (22nm) processors, the B75/H77/Z77 motherboards, and the "Kepler" (28nm) video cards. The good news for "PovoMac" 2.0 is that it is going to be flexible. There will be a basic (i.e. cheapest) model which can be expanded/upgraded to fit the desired budget and requirements. At this stage, it looks like the basic model will be made up of the following core components: Intel Celeron G530, Gigabyte GA-H61M-D2V, and Nvidia GT 520/610. Unfortunately, the "Ivy Bridge" (22nm) Celeron/Pentium processors will not be out until the last quarter of 2012, so the extra cost of the B75/H77/Z77 isn't justified at this stage (in my opinion). In addition, there won't be any entry-level "Kepler" (28nm) video cards lower than the GT 640, as the GT 610/620/630 will merely be rebranded "Fermi" (40nm) video cards.
The good news is that SSD prices have dropped significantly since the original "PovoMac" was created, hence, the basic model will feature a SSD. This will result in a Hackintosh that is both cheap and fast (for most tasks). Honestly, those that claimed the original "PovoMac" was too slow (which it wasn't) will be eating their words. Stay tuned!