While it is disappointing, it is the lesser of two evils. Like the Jedi Master said, it is better to have a delayed yet highly polished product.
I would rather have a highly polished product, as well.....
I guess this all is kind of expected to be delayed, since this is actually ALSO coming to the X360 now....
Then again, Valve probably would've delayed the damn thing if it was PC-Only, anyways. Probably to get it going for Vista under DX10, as well.....
For crying out loud, Valve is taking forever for these "episodes", which are basically mini stand-alone expansions. "Episodic" content should be banked out at a much faster rate than this. Especially for an FPS.
Hell, we'll ALREADY have the 2ND Oblivion PC Expansion Pack this Spring, for crying out loud!!!