I've been following this project since it launched last month, and as of right now, they're almost at the 4mil mark, but just not quite, although the boost in number of donations per hour is certainly helping. At this point in the campaign, I'm sure most people are pitching in as a form of pre-ordering, and to get a piece of some of the goodies.
I'm already in love with the lore and world they're creating, and obviously channeling the Infinity Engine games is a great way to win over my heart. I lurve BG2 to this day, and this game is shaping up to be a worthy spiritual successor. I love Bioware's games as well, but despite similar gameplay mechanics, I don't see them as being spiritual successors, not that that's a bad thing.
Can't wait to see more about this game as it develops.