Node is an open source project run by Joyent. Joyent employees both Ryan Dahl (ryah_) and Isaac Schlueter (isaacs).
Currently all changes to the Node repository are approved by Ryan.
Statements about the direction and progress on the Node project are made in a quarterly Roadmap email to the mailing list.
There are a number of people who are very involved with development and generally familiar with what is happening: