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The current timing is something like:
2015 - 2020: Next generation research reactor (ITER).
At the same time the fusion materials research facility (IFMIF) should come on line in Japan.
2035 or thereabouts: Commercial fusion reactors.
The physicists keep assuring us that they can solve the problems associated with controlling the plasma. The real problems are materials ones - the first wall of the reactor is bombarded with high-energy (14MeV) neutrons, which cause massive microstructural damage, as well as activation (the materials have to be disposed of as radioactive waste). The activation isn't
that much of an issue. The microstructural damage is. Additionally, almost all the data we have is from fission reactors (much lower energy) and accelerators (different energy spectrum), and so although we can try and make models and predictions (what I'm working on), we won't really know how these materials will react under a genuine fusion neutron spectrum until IFMIF is completed.
IFMIF has an irradiation volume of about two litres.
Currently we're trying to use steels, because they're nice. The alternative is to use ceramics, which are much more resistant to radiation damage, but are brittle. So long as the physicists do their job, this is no problem - the reactor's all in vacuum and so the torus is in compression - but if there's an error it'll crack and implode. Also not a real safety risk - the amount of tritium in a fusion reactor is on the order of 2 - 3 grams - but a big PR disaster.
There's a lot of international collaboration going on - the US is welcome back into the fold. They went off and did their own thing for a decade or two, but are back involved again now. Fusion research is currently very sexy, and there's a lot of money going into it. This is, however, going into a small number of big projects (there was planned competition to ITER, but then everyone decided to hitch their wagons to the same project) rather than competetive research.
Hope that helps. I can try and answer any other questions, but can't guarantee to be absolutely up to date.