Oh geez. I hope they haven't decided to make it a holiday title or some bullshit. The game needs to come out. Don't they realize how bad all these delays are making them look?
Of course, a delay in Japan doesn't necessarily mean a delay in the West. The Western release was targeted for Summer for marketing reasons, most likely to avoid the deluge of new releases in Q1/2 (including Sony's own God of War, dropping the week of GT5's original Japanese release date). It's possible the game has been delayed til Summer for Japan, and they'll simply do a worldwide release then, much like they did a worldwide release for GT PSP.