Maybe, maybe not. I'd personally put it in Q3 this year, which is more like a 1.5 years. Either way, I don't think the delay merits quite the exciting you've given it. Consider that there aren't any OMAP3 devices on the market yet, and the closest one to relaese (the Pandora) is still months away.

It's really nowhere near as urgent (or late) as you make it out to be.