Frontier have done nothing with Elite 4 other than to string people along saying that it is coming but with no timeline and nothing shown to the public. The cancellation of the Outsider basically shows that Frontier have no interest in games other than those such as Kineticmals and Lost Winds.
Elite is dead. It's as simple as that.
Hmm, I'm beginning to think you're right. First Elite IV's coming after Outsider. Now Outsider's put on hold, and Elite IV's still coming after Outsider. Frontier, give everyone what they want and get your damn priorities straight! No-one's been waiting for over fifteen years for Outsider, but quite a few have been waiting for Elite IV! Other way round, people. Work on Elite IV, get that out there, make a ton of money and then work on Outsider! Let Elite IV's engine be the basis for Outsider, not the other way round!
And man, Elite IV better be the game to end all games after all this time, and all this false dawns! But since it's probably going to come out on the damn consoles as well, I doubt it somehow.