JDK 7 Release Date set for mid 2012 or mid 2011 depending on how it is defined
blogs.sun.com
blogs.sun.com
The one thing that is almost certain is that whatever they schedule for 2012 will probably not appear in 2012 but rather in 2014 or 2016 by which time several more "essential" features will have made it into Java and hence we will be reading a blog post about how it is now clear that the original schedule wasn't realistic and we should decide whether to split the release or combine the schedule with that of the newly acquired Duke Nukem forever and go for a big 2020 splash. Sigh.
Right now, JDK7 is seeming to me a lot like Microsoft's Vista release.
Personally as a Ruby user I am looking forward to all the dynamic goodness that JDK 7 is supposed to bring (I am not a Java developer so that's my main concern).
But the best feeling I am having is that it feels like Java has against some stewardship: though not everyone will agree with their choices, I think it will do the platform a lot of good.
The Language Java needs its own release cycle.