Here is an FAQ the team posted up too:
Q: What is 'Red Dead Redemption V'
A: Red Dead Redemption V, or 'RDRV', is a modification for Grand Theft Auto V. Our goal is to bring you the full map with additional content which will be unveiled later on.
Q: What is '.White'
.White ("dot white") is the brains behind it all. It's a toolkit which offers support for multiple Rage based Games, however, we are currently primarily focussed on Red Dead Redemption support for all of the 'Xenon' resources. As for the reasoning of the '.white' name, we'll let you figure that out yourselves:) Here are 1 2 3 teasers from our Model Viewer.
Q: Will there be Multiplayer?
A: We will make the map available for use in FiveM\FiveReborn and similar third party online clients. We do not condone the use of this mod in GTA Online.
Q: Can I help develop this mod?
A: Sure! We are always open to expand our team. We are mostly looking for programmers who are able to help us reverse engineer the file formats. We are also looking for scripters who are able to remake any of the game's original content over to GTAV, think minigames and certain mechanics such as Dead Eye Targeting. If you have experience creating normal, specular and height maps, you are also welcome.
When possible, we will also need converters for Vehicles, characters and animals.
Q: How far is the mod in development?
A: The framework is all there, we are constantly finetuning the methods we use to convert the game. .White aims to get as close to the original as possible. Out of all the other Rage games released before GTA5, RDR is the toughest one to crack, so please be patient.
Q: When can we expect a release?
A: We aim to bring you the first beta sometime this Summer. Stay tuned for the exact date!
Q: Can we expect any improvements over the original game?
A: Mainly only graphical improvements. Other than that, we are using all the shaders that are made available to us. We are remaking a large portion of the normal maps as they are half the size on the consoles. We will also be adding Parallax Occlusion Mapping and Tessaslation where applicable.
Q: Are you converting the Xbox 360 or PS3 version of the game?
A: Xbox 360.
Q: What's the download size of this mod?
A; Aproximately 2GB.
Q: When can we expect more screenshots and a trailer?
A: As soon as possible! We want to make sure to have everything in place without missing portions of the map before showing it off.