No they really are not improving it. It will never be a 100% complete fully released game. The guy who made it ditched the project and some other people picked it up. It continues to get better, but it will never run as well as an AAA game.
You will get perfectly playable FPS on a mix of the "normal" and "high" settings probably.
For example I have an overclocked i5 (same as i7 here because DayZ does not use Hyper Threading), but mine is slightly more powerful than a 3770 as I am overclocked at 4.5ghz. I also have TWO 660ti's in SLI. I'm lucky to get 40fps in town on very high settings. Usually sits in the 30s.
You will get perfectly playable FPS. The game is coding, not hardware limited.