Boy, they were quick to try an attempt at damage control on this one.
Here is the IE7 team leaders response. Exactly what I knew it would be.
Quote:
Watch the IE Team blog for updated information http://blogs.msdn.com/ie
We know everyone wants to see the latest work and I can assure you that the team is working hard on that and not just sitting back twiddling our thumbs to tease you all . As announced on the blog at http://blogs.msdn.com/ie/archive/2005/12/06/500599.aspx we expect to release a preview this quarter and we are well on track for that.
Sorry I can't say exactly when it will be available but this is not something we just rush out. We'll come over here and announce when it is if one of you don't beat us to it 
Thanks
-Dave
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This says nothing and explains nothing.
Link to thread.
http://channel9.msdn.com/ShowPost.aspx?PostID=156577