Not exactly surprising, but Microsoft has officially announced that the consumer release of Windows Vista has been moved from "the second half of 2006" to "January 2007." Although it's disappointing that we won't see the product this year, I completely support their decision to delay it so that it's as bulletproof as possible.
You're no doubt familiar with Moore's Law and how it explains how processing power roughly doubles every 18 months. I have a completely separate theory I like to call "Microsoft's Law". It states that you cannot lock down on a major product release unless the projected release date is within the next 6 months. In this case, the previous projection was that Vista would release by the end of the year, or approximately 9 months from now. That's beyond the 6 month window of "Microsoft's Law", so it shouldn't surprise anyone that it's been further delayed. In fact, if January remains the official target release date, we can't be assured it will stick until we're within 6 months of then, or till approximately 7/31; if they're still calling it a January release by 7/31, "Microsoft's Law" says you can feel pretty confident it will hit.