No, I don't have time to clean up the code, port it to the latest AppEngine API, etc.
The Faucet was the simplest possible project I could think of to get my feet wet with Bitcoin; the hard part is preventing cheaters who try to get more than their fair share, and I was never able to come up with a really good solution (that is tied into the whole identity-on-the-Internet thing, which nobody has solved).