They will start with 2 A320's. Nothing changed on that front.
They are still waiting for their AOC but it won't be a low cost airline anymore (they are not allowed due to Lebanese regulations till 2007 I think) so it'll be a charter company working with some local travel agencies.
Rumors are that Paris Orly will be one of their European destinations.
No start date for the moment since no AOC.
Cheers!
DII