According to Marshall Chess and the Chicago Sun-Times, Who Do You Love will be released early next year:

Chess’ son, Marshall, says a second Chess film, called “Who Do You Love,” will be released early next year. It is directed by Tony Award winner Jerry Zaks (“Guys and Dolls”).

Source

On IMDB, it is stated that Who Do You Love will be released on December 5th, 2008 but it is actually the other movie about Chess, “Cadillac Records” that is released on that day, not Who Do You Love. There still is no release date yet for Who Do You Love.

Red Carpet Diary talks to the cast of “Who Do You Love”, the story of Leonard Chess and the influential blues label, Chess Records. They spoke with stars Alessandro Nivola and David Oyelowo plus director Jerry Zaks. Note: No sign of Lisa in this video, but this is probably the first video footage we get about the movie. Thought some would be interested to know more and see its actors!

Wilson Morales at Black Voices is reporting that actor David Oyelowo (A Raisin In The Sun, The No. 1 Ladies Detective Agency, The Last King of Scotland) will play Blues musician, Muddy Waters, in a film about Leonard Chess, record producer and founder of Chess Records. Chess Records was considered the pre-eminent Blues label of the 50s and 60s. Who Do You Love stars Oyelowo, Chi McBride, Megalyn Echikunwoke, Alessandro Nivola, Lisa Goldstein, Jon Abrahams, and Marika Dominiczyk. Written by Peter Martin Wortmann and Robert Conte and directed by Jerry Zaks, Who Do You Love was shot in New Orleans, the home of Jazz music.

If anyone is in the Toronto area and is interested, the indepedent film Lisa starred in earlier this year is being presented at the Toronto International Film Festival:

Thursday, September 11, 09:30PM at Roy Thomson Hall
Friday, September 12, 09:00AM at Scotiabank Theatre 4
Saturday, September 13, 11:45AM at Varsity 8