However, iPhone contains the most sophisticated software ever shipped on a mobile device, and finishing it on time has not come without a price - we had to borrow some key software engineering and QA resources from our Mac OS X team, and as a result we will not be able to release Leopard at our Worldwide Developers Conference in early June as planned.
Instead, Leopard will supposedly and hopefully be available in October. According to Apple, it'll be worth the wait. Then again, many companies have histories of releasing software too soon and having it come back to bite them. Better late than never, and better be safe than sorry.