It sounds like they just need an excuse to delay.  Fine with me.  The original is still my all-time favorite game, but they've completely soured my desire for the next one at this point.  I'll still get it most likely, but I won't be rushing out to pick it up the first week or anything.  And I'd LOVE to see the tongue-lashing the manager for this project will receive from his superiors.  The financial guys most definitely would have wanted a Christmas launch as sales would've been MUCH MUCH stronger.
As long as Thief 3 comes out on time (although I think it's still lacking an official release date) I'll be happy.