NJT is not out in the Farley Building, there has been no changes to Penn Station with regard to the Farley Building as of yet. the only change as of late, is that NJT opened a stairway and entrance from its 7th Ave Concourse actually out to Seventh Ave. There was no access before. I do believe, however, that work is expected to being in the next year or two in expanding the lower track platforms west to connect with a new concourse for the Farley Buliding. I saw a timeline somewhere, but I can't remember if it was on NJT's site or the ARC or Moynaihan station site or even elsewhere.
The NJT 34th St. Station might not help as much as one would think, as a lot of those slots are destined for new service and expansion of existing service. While NYP might have a LITTLE relief, don't expect it to be that much, as MOST (not all, but MOST) of the trains that go to NYP now will continue to go to NYP in the future after 34th St. station opens.
I thought Moynihan was never dead, just that Amtrak wasn't on board. As far as I remember, NJT was going to be the lead tennent in there, and while it would have been desirable to have Amtrak on board, them not being on board didn't mean the project was dead. It would have been great for NY State and the Feds to pay for a pretty much exclusive NJT station area