If you're still wondering what's keeping Windows Mobile 7 from coming out for at least another year, this may shed a little light on it.
Windows Mobile 7 will change the way you view your phone. We aren’t just building a me-too iPhone or RIM competitor; we’re changing the way customers use and experience their device. In the OS Platform team we are responsible for the OS, file systems, security, hardware platforms and drivers, networking & connectivity, location framework and updateability. In other words, we build the foundation upon which the rest of Windows Mobile is built.
So it definitely looks like they're going ground-up on Windows Mobile 7, and they may well still be in the relatively early stages. And note the use of the word "updateability" above, and recall in the latest WMExperts podcast how Dieter explained that updates eventually will come from Microsoft itself, and (hopefully) not pass through (and be delayed by) carriers.
Businesses likely will stick around during the interim. Question is, will the rest of us?