The guys on the CyanogenMod Team really have their hands full with all the new code in Ice Cream Sandwich apparently. That is what they shared recently in a progress report on their CM9 build for Android 4.0/Ice Cream Sandwich, and why it is taking a bit longer to get it out than past versions. They mostly had to start from scratch, but the payoff will be worth it. The "back to the drawing board" approach has allowed them to rethink each step in their process. One example they gave is that CMParts app will be eliminated because they can instead they expose custom features directly inside the main settings menus. This has allowed them to strike a better balance between customization and providing a really good out-of-the-box experience.
They are aiming to make CM9 feel like a product that might have actually shipped on your phone, instead of just a sophisticated hack. Here's a quote from their progress report,
Don't forget to check the CyanogenMod source link below for more details in the full progress report.As our hardware support improves, I’ll keep this blog updated. As much as we’d like to stay ahead of the manufacturers, it may be a tie this time
Source: TransformerForums via CyanogenMod