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March 2010 is 25 months away. Do you really think that they'd decide this early to delay the game for that long? This is a pretty unbelievable rumor. Even if the game was having tons of problems, and they were planning to delay it yet again, they wouldn't decide this early. They'd shoot for the best, and if another delay was necessary they'd decide sometime in 2009.

And we know the game isn't vaporware, because they've already unveiled multiple characters, so we know that they have the basic story fleshed out, and because they've almost completed the White Engine. They're even supposed to be demonstrating the Engine at GDC.