Based on how much is going on in August, I'd say a September preorder and October shipping date, if you're
optimistic, given the history of the product. I mean, they speculated at one point completed units would be in people's hands by June.

While the emulation and game ports are impressive, the hardware really does need to be nailed down. The people over at GP32x are extremely petty about their controls, especially the analog nubs, which is the reason for the current delay. To tell you the truth, there has yet to be a video that shows the Pandora actually being played, just demos of stuff. Couple that with the fact that they've still got no OS (let alone GUI) to show off, it's not good, IMO.
I'm glad I've got this thread to say this stuff in, if I even MENTIONED it over there I'd be called a "troll" and get a temp ban. Stupid, no?
