The experiments are being done right now!
http://www.emc2fusion.org/
Here's a plasma running inside WB7, a reconstruction of Bussards last experiment (but better made, so it won't short out like his did)
The experiments are being done by Richard Nebel, a well repsected plasma physicist. He posts on the Talk-Polywell forums and gives regular updates on progress. The funding is minimal and is from the US Navy, but all results will be published in public. If they confirm Bussard's theories, then someone can have a go at making a break-even device. For a heck of a lot less than ITER, that's for sure.
http://www.talk-polywell.org/bb/index.php