We first saw this seven years ago(!) at SDCC 2004, and the last information we heard was in 2006:
I asked about the Fate helmet while I was at Toy Fair. The full scale props are taking alot longer to get "right" than they anticipated. The Batman belt is just now being solicited.
The Fate hemlet is STILL being worked on. They think they have found a factory that can do it the way they want and for the price they want. There are still some tweaks they are making to it. They say it's about 95% there. And we should see it solicited fairly soon.
Obviously the DC Direct crew either ran into more issues, or this was pushed further down the priority list (maybe both). With the DC announcement from Sideshow Collectibles yesterday, is it possible that the Helmet of Fate prop will finally see the light of day from the crew at Sideshow? If so, will anyone be able to afford it? I'd love to see this at SDCC!