Apple says "spring of 07" Frankly, I don't really care if they release it in summer of 07. The only two cool things I see and like in Leopard are the "time Machine" app (whopteedoo, I have my machine back up my documents folder nightly to my desktop) and my entire boot drive once a week. The virtual desktops look cool, which I already have on this machine. It's just a separate app, and not integrated with the OS.
Apple is prolly playing with vista. They would be fools not to be. A lot of the stuff msft has screwed up in vista, they've just disabled. No virtual directory service? Please, that's the dumbest thing they've done.
Don't you all worry, I'm sure soon, eEye, twarte, and other computer security firms (let's not talk about the white hat hacker groups) will be releasing Vista security flaw bugs galore.