So... the good news is when pushed for an answer in front of his boss, Mike Angiulo finally gave a date for the long awaited release of Microsoft Office Project Server 2007. The bad news is that the date is in March or April of 2008, more than a year after the release of Project Server.
Details and a critical (but I'm hearing accurate...) write up of the announcement and the Project Conference can be found here
I hope that Mr. Angiulo will exceed expectations and deliver early. It would be a celebration for applause.