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I could easily see both Sony's Wand and Microsoft's Natal being delayed several times ... There are (essentially) three things that have to be worked out before these products can be released:

  1. The hardware has to be completed, be a mature product and be released at an affordable price.
  2. Sony/Microsoft have to have first party "Core" games that really take advantage of these systems and show off how they're superior to what already exists. These systems have to have far more effort put into them than the eyetoy did or else they will be no more important.
  3. Sony and Microsoft need third party developers to heavily support these input devices in many of their upcomming games.

Price is less of an issue with Sony, but if you don't have a big internal game or strong third party support it would be a bad idea to release these devices because it will only be a big, high-profile, failure.