On September 26 and 27, AHTD held public meetings regarding US 67 Proposed Corridors from US 63 in Walnut Ridge to the Missouri state line:

edit - added above map
The Comment Form indicates that interstate-grade construction (Future I-30?) is still on the table
This
May 8, 2013 article reports that the study is anticipated to be completed this Fall and that interstate-grade construction to the state line is estimated to cost $500 million and that a five-lane highway is estimated to cost $300 million:
Walter McMillan, Arkansas Highway and Transportation Department district engineer, updated those at Tuesday's Rotary Club meeting on progress with highway projects in the Lawrence County area ....
McMillan also addressed the future of Highway 67, north from Highway 63, reporting that the department anticipated the study regarding the route for the highway to be completed this fall.
He said that 50 percent of the people who selected a route chose the one that would follow the existing highway.
"If the commission decides to go with a five-lane highway, there is more of a chance to follow the existing route," he said. "If it is interstate standard, it would be somewhere else possibly."
Five-laning would also be less expensive, though both options will be costly.
The last estimate I heard it was $500 million to do interstate and $300 million to do five-lane highway," McMillan said.
He said in both Paragould and Portia response from the public swayed the decision on how the highways would be constructed.
"It all comes into play," he said. "They will look at the most economical option and take public opinion into account. When the study is complete, the commission will select a route."
It seems like the five-lane highway option may be the pick.
Contract for the Highway 230 to US 63 section awarded on December 3:

(above quote from
US-67 Extension thread)
In the above-linked article, Walter McMillan also provided an update on the interstate-grade projects south of Walnut Ridge and noted that the entire sixteen miles will be opened to traffic at the same time:
Work is underway on Highway 67 from the interchange with Highway 226 (between Swifton and Cash), northward to the Highway 63 interchange at Hoxie. McMillan said there are four different construction projects underway on the six-mile stretch from Highway 226 north to Highway 230.
Work has also begun on the 10-mile stretch from Highway 230 to Highway 63. Much of the grading and structure work is completed and the paving contract will be let in December.
"If things go really well, in another two to two-and-a-half years we will probably be done with that section of 67," McMillan said. "It's coming; it's just a matter of finishing up."
He did report that none of the final 16 miles will be opened until it is all complete, stating that Highway 230 would not be able to withstand the traffic if the first six miles were opened.
"So, when the two open it will be all the way up to 63," he said.
I assume the reporter meant to write that the paving contract for AR 230 to US 63 was awarded this past December. At any rate, it looks like the sixteen miles will be open to traffic at some point in 2015.