The first experimental CyanogenMOD 9 port for Motorola Defy is now available for download. Most of the hardware components are working fine right now, apart from camera, and other small glitches. It goes without saying that this build is not for everyone and only advanced users should try it and help in sorting out the remaining bugs.
The installation procedure for this port is a little tricky; you will first need to flash CM7.1 stable ROM or nightly and then boot in recovery to flash the ICS build.
Working: Touchscreen (W/ multitouch), USB, Network, Data, Wi-Fi, Hardware Acceleration, 2D and 3D (with GB kernel), Video Playback, GPS & A-GPS, and Sensors.
Not Working: Camera, Charge Only Mode & Defy Parts Settings
For more head over the main XDA thread, bug reports thread