A) AMD's own strategy for Fusion takes 3 steps (as they were revealed couple of years back) - integration, optimization, then exploitation. Pls read this
http://www.anandtech.com/show/2229/3
Initial stage of Fusion launch is integration - basically CPU & GPU into 1 processor package.
It really matters little at integration stage whether they are on same die or not (much like 2 CPUs in one package vs 1 die - remember that debate).
The 'Merge of CPU & GPU on one chip' you're talking about will actually happen at what AMD calls optimization step. This is where they'll add the x86 instruction extension to provide direct access to GPU like they do for CPU currently (plus any additional architectural improvements etc.,).
My point is that initial Fusion'd BD launch will be integration only and that's next year sometime and it's just moving IGP into 1 processor package with CPU cores - it is nothing earth-shattering.
B) Fully "optimized" Fusion products (BD or its successor) will be much later as it would more than likely require fairly significant instruction set and architectural changes to the CPU design. Seeing as how AMD wants to mimic Intel's tick tock - if that holds true then most likely guess at a time-frame for full optimized Fusion would be 2 years after BD launch.