Allen is a great guy and I love TM. However, here are some facts. TM2 has taken SIX YEARS. It was "90% done" 2009.
This is a living, breathing case study in why quick customer-driven releases are better than "big upfront plans" and "giant system rewrites." Anyone who has developed a major application knows what I'm talking about. These "big rewrites" almost always take much longer than expected, as has clearly happened here.
I have learned to listen to what your customers want, and just build it. Develop it in a few weeks, release it, and then ask again what your customers want. Some people call it "customer-driven development" and I think that's a good way of phrasing it.