I can't see a "major" program update before Q1 of 2013.
running late i think
Nothing of the sort, when there is no clearly defined schedule, it can hardly be running late.
Given that the last two major updates occurred in Q1 of the last two years, that would imply on schedule rather than late (if there were a defined schedule). Plus beta testing (not in house testing) for the last two major version updates was about 4 to 6 weeks before RC versions and final release.
As I have said speculation is pointless.