Well, the SteemPay project is no longer an empty shell!
This weekend I was able to get the login process pretty much completed. A user will login with username/password and it will generate the needed keys (active and memo) and then forget the password entirely. It can detect incorrect username/password combos, usernames that do not exist, and correct username/password combos.
There is also a nice loading animation ;)
Once logged in, SteemPay is pulling profile metadata and balance information from the blockchain.
Next up, getting transfers/memos to function properly. Here is a video of the login process for your enjoyment: