feat(docs): create project status page

Creates a new PROJECT_STATUS.md file to provide a clear and honest
overview of the project's current state. This file summarizes which
features are implemented, in progress, or planned, and highlights
critical known issues.

The main README.md has been updated to link to this new status page,
ensuring it is the first thing new users and contributors see.

This addresses the first and highest-priority item from the recent
documentation audit, which identified a disconnect between the
documentation and the actual implementation.

DONE.md

@@ -1,5 +1,14 @@
 # VideoTools - Completed Features
 
+## Version 0.1.0-dev22 (2026-01-01) - Documentation Overhaul
+
+### Documentation
+- ✅ **Created Project Status Page**
+  - Created `PROJECT_STATUS.md` to provide a single source of truth for project status.
+  - Summarizes implemented, planned, and in-progress features.
+  - Highlights critical known issues, like the player module bugs.
+  - Linked from the main `README.md` to ensure users and developers have a clear, honest overview of the project's state.
+
 This file tracks completed features, fixes, and milestones.
 
 ## Version 0.1.0-dev20+ (2025-12-28) - Queue UI Performance & Workflow Improvements

PROJECT_STATUS.md

@@ -0,0 +1,39 @@
+# Project Status
+
+This document provides a high-level overview of the implementation status of the VideoTools project. It is intended to give users and developers a clear, at-a-glance understanding of what is complete, what is in progress, and what is planned.
+
+## High-Level Summary
+
+VideoTools is a modular application for video processing. While many features are planned, the current implementation is focused on a few core modules. The documentation often describes planned features, so please refer to this document for the ground truth.
+
+## 🚨 Critical Known Issues
+
+*   **Player Module:** The core player has fundamental A/V synchronization and frame-accurate seeking issues. This blocks the development of several planned features that depend on it (e.g., Trim, Filters). A major rework of the player is a critical priority.
+
+## Module Implementation Status
+
+### Core Modules
+
+| Module  | Status                      | Notes                                                                  |
+| :------ | :-------------------------- | :--------------------------------------------------------------------- |
+| Player  | 🟡 **Partial / Buggy**      | Core playback works, but critical bugs block further development.      |
+| Convert | ✅ **Implemented**            | Fully implemented with DVD encoding and professional validation.       |
+| Merge   | 🔄 **Planned**                | Planned for a future release.                                          |
+| Trim    | 🔄 **Planned**                | Planned. Depends on Player module fixes.                               |
+| Filters | 🔄 **Planned**                | Planned. Depends on Player module fixes.                               |
+| Upscale | 🟡 **Partial**              | AI-based upscaling (Real-ESRGAN) is integrated.                        |
+| Audio   | 🔄 **Planned**                | Planned for a future release.                                          |
+| Thumb   | 🔄 **Planned**                | Planned for a future release.                                          |
+| Inspect | 🟡 **Partial**              | Basic metadata viewing is implemented. Advanced features are planned.  |
+| Rip     | ✅ **Implemented**            | Ripping from `VIDEO_TS` folders and ISO images is implemented.         |
+| Blu-ray | 🔄 **Planned**                | Comprehensive planning is complete. Implementation is for a future release. |
+
+### Suggested Modules (All Planned)
+
+The following modules have been suggested and are planned for future development, but are not yet implemented:
+
+*   Subtitle Management
+*   Advanced Stream Management
+*   GIF Creation
+*   Cropping Tools
+*   Screenshot Capture

README.md

@@ -4,6 +4,13 @@
 
 VideoTools is a professional-grade video processing application with a modern GUI. It specializes in creating **DVD-compliant videos** for authoring and distribution.
 
+## Project Status
+
+**This project is under active development, and many documented features are not yet implemented.**
+
+For a clear, up-to-date overview of what is complete, in progress, and planned, please see our **[Project Status Page](PROJECT_STATUS.md)**. This document provides the most accurate reflection of the project's current state.
+
+
 ## Key Features
 
 ### DVD-NTSC & DVD-PAL Output