The PMSE Community has been growing and doing well. It seems to be a healthy, sustaining site with "Excellent" in every Area51 metric save one, including the number of users with reputation. I believe the site makes the internet a better place. Any sense of what it will take to graduate to a full site?
While CodeGnome has about the most core issue laid out, I'm going to summarize the Community Team's last evaluation a little, since y'all asked.
We were very pleased with your evaluation overall. The results looked to be consistent with our analysis, and we're especially happy with the quality of your answers here. This site is doing well: users are getting good answers to questions and (more importantly) the answers have gotten better over time. You all seem to be pulling together a site truly for experts and professionals.
While you all have been growing, it is slow growth. User acquisition and conversion (from drive-by to baked-in) is going to be your biggest challenge along with attracting visitors. I think if you can get the visits, you'll get the users (and more users at higher rep) fairly quickly.
Much like The Workplace, we'd really like to see more content that isn't software development related. That's not something that will magically change, and the reasons for why are pretty obvious (Stack Overflow). That said, I feel PM and Workplace will have some similar challenges moving forward and as they grow. (It's not by crazy random happenstance that you all share a moderator with that site.) There already seems to be some overlap in the sites' userbases, so it seems to me that you all recognize this implicitly, as well.
Ultimately: we're happy with your progress, but we believe you'll need to be a larger site before you're a viable graduation candidate. You've done a lot of excellent work thus far, and we're hoping you all continue to move in this positive direction.
If you have clarifying questions or follow-up queries, just comment and I'll do my best to respond!
As of 2013-03-20, we have just 7 users above 5k. We also only have 12 users above 3k. If we graduate out of beta, most of those users will lose sufficient privileges to community-moderate the site.
My personal estimate is that we won't graduate until we have a larger core of 5-10k users. Honestly, I don't see how beta status hurts us, or why we'd be in a hurry to leave it.