This paper describes our on-going research. Recently, we developed an algebraic theory based on classical process algebra ACP, called SystemC/sup FL/, for the specification and analysis of SystemC designs. The semantics of SystemC/sup FL/ is defined by means of deduction rules in a standard structured operational semantics style that associate a labelled transition system with a SystemC/sup FL/ process. In this paper, we first provide an overview of the current status of SystemC/sup FL/ and show some practical applications of SystemC/sup FL/, as well as some key features and results of SystemC/sup FL/. Then, we give an outline for the latest developments of SystemC/sup FL/ and point out the direction for future work