It'll be released when it's ready. At this point, I'm confident that will be well before June. This idiotic hand-wringing when Debian misses a release goal gets really old for people who understand how it actually works.
Debian has no corporate goals committee. The target date was a shot in the dark. Sarge was, as I recall, about a year and a half late. They did better with Etch ... only 6 or 7 months late.
If you're hip to the movement, you've already upgraded to Lenny. (If you need the proprietary Nvidia drivers, ask before diving in blindly.)