How soon?
the code is already available on gitorious, but needs to be polished a bit.
And how does Electrum compare to.... BitcoinSpinner?
1. BitcoinSpinner relies on a closed-source server run by a single individual. Electrum servers are open source.
2. The BitcoinSpinner server uses user accounts to store master public key, addresses, balance. With Electrum you can use any server, instantly; it does not matter if the server has never seen you before.
3. Electrum is also a desktop client. And here comes the magic part of deterministic wallets: you can use
the same wallet on your desktop and on your telephone. They remain synchronized, automatically. To illustrate this, here is a screenshot of the same wallet on my desktop:
https://s3.ecdsa.org/Capture-Electrum+0.43c.png you can see that the history and balance are the same as on the android screenshot.
Your wallet is not on your device, it is in the cloud, and the cloud used by Electrum is the Bitcoin blockchain!