I wish them luck. Their pitch video isn't great, though, and $650K is a lot of money, but it's obviously not impossible.
I read Yesterday's Children (a title which to me made no sense to the story) once upon a time and liked the twist at the end. I don't recall a lot about it otherwise, and never read the Star Wolf books. I tried Gerrold's Chtorr series, but got bored with it after a few volumes...in fact they made such a non-impression on me that I can't remember much about them at all.
I hope the scripts for Star Wolf are better than his Blood and Fire
script (which he also directed) for the Phase II fanfilm series, because that was a weak, padded teleplay.