I can relate. I just received my Rail King Nickel Plate Road Alco PA's a few weeks ago. They were 2010 v2 or 2011 v1...I honestly don't remember. They got pushed back twice, then it was announced they'd get PS-3, then pushed back a couple more times, and then finally arrived.
What I can say, is that with the PS-3, it is well worth the wait. I just run conventional but I've been very impressed with the sound and functions of the locomotive. MTH hasn't had their "items scheduled to ship" section in their weekly newsletter for a few weeks.
With the slow down in shipping (it seems) I wonder what effect that will have on what will be in the 2012 v2 catalog that should be coming out at York?