This video/lecture is rather long, but it's an excellent introduction to what the Blue Brain Project is working on:

http://www.youtube.com/watch?v=9gFI7o69VJM&list=PLgO7JBj...

That was back when Henry Markram was still collaborating with IBM. It explores some of the intricacies of reverse engineering neurons and the human brain.

Another good source of information is the Whole Brain Emulation Roadmap:

http://diyhpl.us/~bryan/papers2/brain-emulation-roadmap-repo...

This was the funding proposal that they sent for the Human Brain Project:

http://diyhpl.us/~bryan/papers2/neuro/HBP_flagship.pdf