What still needs to be done:
Modeling the twin 127mm (5inch) turrets
relocating effects (bow wake, underwater bubbles and caustics, etc)
Increasing AA armament
Modelling crew slots properly
Once those things are done, it will just be a question of ironing out some minor bugs, and the boat will be good to go!
I expect a public release by the end of this week if all goes well, and by the end of next week if something comes up/a wrench is thrown in the mod. But hopefully, those things won't happen.
Sadly, it will not be possible to model an Arado scout plane, given the stock game limitations, and the boat will also be lacking 1 AA gun that the real boat would have had. These (especially the scout plane) are mostly hard-coded engine limitations.
Other than those 2 limitations though, it should be fairly accurate to the real thing (or at least, what is known about it - information on the Type XI boats is hard to come by)