As of several months ago, there was a debate underway as to which route it will initially take north/east of Lynchburg. One "side" is pushing to make a connection in Richmond first via the lines east of Lynchburg, as opposed to the "primary" northern route recommended via Charlottesville, Culpeper, and Manassas. There were several local press conferences, but not much concrete has happened since.
Currently, VDRPT (Virginia Dept of Rail) is primarily focusing on the infrastructure improvements on the ex-RF&P (CSX) side as well as the Metrorail extension toward Dulles Airport in Northern VA. They are also doing the Hampton Roads area study as well as working with the NCDOT Rail Division on the Southeast High Speed Rail Study. A dedicated rail fund was established, but being in its infancy stages, it will take time to get things rolling.