Francois Ajenstat posted today that Microsoft expects to release SQL Server 2008 to manufacturing in the third-quarter of 2008.
Microsoft is excited to deliver a feature complete CTP during the Heroes Happen Here launch wave and a release candidate (RC) in Q2 calendar year 2008, with final Release to manufacturing (RTM) of SQL Server 2008 expected in Q3. Our goal is to deliver the highest quality product possible and we simply want to use the time to meet the high bar that you, our customers, expect.
Their previous plan was to RTM in Q2 so it looks like things are slipping a little. Still I'd rather have a little delay than release the product before it's ready.