Looks like the delay could be causing them financial difficulties. 

http://www.gamepro.com/news.cfm?article_id=152268

Take-Two future in jeopardy due to GTA 4 delay

Rockstar Games' parent company is vulnerable and uncertain says a new report.

The delay of Grand Theft Auto 4 on PS3 and Xbox 360 did more than upset millions of gamers anxiously awaiting its release -- it further complicated Take-Two's ongoing attempts to return to profitability.

According to The Street, the publisher could run out of both cash and credit reserves as soon as January or February, making the spring release of GTA 4 that much more crucial to the publisher's survival.

As a result, an incredible 32 percent of company stock is outstanding, meaning investors are anything but confident with Rockstar's sugar daddy at the moment.

Still, analysts say Take-Two can pull though if it launches Grand Theft Auto IV on schedule. Michael Pachter, for one, expects the game to sell 8.5 million copies by October, more than enough to turn things around.

Take-Two has seen a string of financial and management disasters in recent years. Despite its troubles, the publisher was ranked the six largest game-maker behind Nintendo, EA, Activision, Ubisoft, and THQ in Game Developers' 2007 Top 20 Publishers list.

who didn't see this coming?

If they're in this kind of situation, I wonder how unprepared the game had to be for them to delay it. It must have been quite bad, or I imagine they would have just released it and planned to patch it later. It doesn't bode well for the game.

Maybe they should look at accepting some sort of up-front monetary compensation from Microsoft for exclusivity or further benefits. MS would likely help them out here if they help 360 sales in some way in the near future.

This situation feel absurd ...
Relay the destiny of an entire publisher on one game only .

Didn't they release Bioshock?

take two needs to stop relying on gta, or they will never survive. they need some new ip's soon

 seems kinda segaish doesn't it? (NiGHTS/Sonic)

 umm TT owns many more studios then R*...

Well, if their in a bad enought situation maybe MS (or Sony) could bride them to make GTAIV exclusive with some timely upfront cash.

Makes you wonder how unfinished it was to be delayed though and how unpolished it may yet be when released.

Gee, you'd think with all the cash Manhunt 2 & Carnival Games is making them they'd be in the black already. jk.

An exclsuive for Sony would require an insane amont of upfront cash -- cash that Sony doesn't have.

For the sake of simplicity, let's assume GTA4 will sell 8 million copies in the US in 2008.  Probably 5.5 million to 6 million would for the 360 under such as circumstance and 2 to 2.5 million would be for the PS3 (assuming PS3 sales stay relatively high).  The US is definitely the primary market for GTA and GTA needs to make its money here.  For Take Two to do a PS3 exclusive release it would cost them hundreds and hundreds of millions in lost sales.  Although a 360 exclusive release might cost them about one hundred million in lost sales.