MGS4 was delayed.
God of War III was delayed.
Mass Effect 2 was delayed.

And many more.

Splinter Cell: Conviction and Alan Wake as well. It varies from game to game.

Usually depends on the team.

If it's a talented team, it probably means a more polished offering.

If it's a non-name team, it usually means a messy, unpolished offering.

Nintendo delays stuff all the time and it usually results in a great game.

things get delayed for a variety of reasons, but, concerning quality, there is really on 1 or 2 reasons. One is that the devs are having trouble coding something, which may mean that they aren't very good devs or don't understand something. This may belie quality.

Similarly, if a game isn't that good and is slated for March, and then a better version of a similar game or a blockbuster game comes out a week before theirs is scheduled to, they may delay it to get a less competitive block of time thereby circumventing any overshadowing that may occur.

But like I said, there are many many reasons for delays. One could be licensing negotiations or production contracts etc etc.

Also.... were you seriously expecting something from "wolf man"???

To paraphrase Miayamoto. At least I think it was him.

A delayed game is eventually good. A rushed game is bad forever.
For example Sonic '06.