And if you don't take that view this delay looks just awful.
Depends on what the target is. I think the launch windows is Nov - Jan, for silly season sales, with the biggest part of the bump right now through to Christmas.
In a perfect world, where my opinion mattered, I'd want the mainstream performance parts ready for back to school (late aug), and high end parts hitting just before thanksgiving, ultra just before Christmas/Qwanza/Hannukah/Winter Solstice. Desktop and media consumption/casual parts intro in Jan/Feb for new OEM and Prebuilts, then a mild refresh/update to key mainstream & high end parts around april/may (tax refund, end of school dads/grads summer fun). Hopefuly this hits the consumer spending peaks and people who want to upgrade/update/replace can do so.
So, this Q we've seen NVIDIA hit Nov with a new high end part, and rumors of another one right around the corner. AMD have a mainstream performance part in market, later than 'back to school' but in the holiday sales season. We've got Cayman rumored for this month, with AMD putting it on their road map for Q4, and Antilles due Q1, possibly CES intro?
I'm not willing to call AMD late yet, although Antilles is late to market unless it generates is own sales bump from being filled with awesome win and kittehs, but nowhere near as late as GF100 was for the Windows 7 / 09 holiday bump, although it still managed to hit a bump.
As for performance, historically I think a precedent of +30-40% year on year for the high end is neither too pessimistic or optimistic, but I hope to be surprised.