This is not new project, but a slight remake of stk500 compatible AVR USB programmer from tuxgraphics. It uses FT232BL chip to implement USB to serial converter and ATmega8 in DIP package. Actually it is a mix of smd and through hole parts that were found on table. So there you won’t find a fancy tiny PCB but yet another STK500 clone PCB version.
Actually this programmer can be built in many ways as it doesn’t care how serial data reaches Atmega8, so there can be any type of USB to serial converter as main core of programmer is AVR firmware that takes care of STK500 protocol. So if you are looking for AVR ISP programmer this is one of places to look for. The most important thing is that it works with AVRStudio and AVRDude.