Here's a roadmap with some of the progress I've made as well as what's in store for flagRSP BC in the coming weeks and months.

0.5.8 - Configuration Panel Release
-Released
-Configuration Frame. Complete
-Bug fixes. Complete

0.5.9 - Minor Code Cleanup Release
-Release Time: 2.1 Patch.
-Remove unnecessary global variables. Possibly Complete
-Fix any functions tainting the default UI. Possibly Complete
-Add support for non-standard unit frames. Complete
-Separate the Friendlist.lua file into two files, one for the UI one for the data. In Progress
-Add in option to purge stored Flags in between sessions. Not Started
-Update the relative tooltip display as well as other tooltip related items. Not Started
-More bug fixes. (I'm looking at you, PVP Ranks.) In Progress
-Anything else that comes up. If Necessary

0.6.0 - Rewrites
-Release Time: 2.2 Patch or When It's Done, whichever comes first.
-Use the new memory functions in 2.1 to gauge performance and fix as necessary.
-Optimize the interface so there's less OnUpdate processing.