It really wouldn't surprise me if it was delayed again.
"Research firm Gartner said Tuesday that it believed Microsoft would miss its targets and release Windows Vista another three or so months after its current November-January timeframe. The firm claims Vista's features are too complex to be finished that quickly.
Windows Vista was originally scheduled for a 2005 release, but has been repeatedly delayed as the Redmond company struggled to finish upgrades and ensure a quality release. Vista is the first major upgrade of the Windows platform in five years."
