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You should check out my new project: DropWiki - a wiki that lives in your dropbox!
How the release date is calculated
The projected Drupal 7 release date is calculated by using logarithmic regression on the number of critical bugs beginning on March 23, 2010 (graph). Extrapolating these regressions allows us to estimate the day when the critical bug count will be zero. 17 days are added to the end of this calculation to account for an estimated amount of time after the bug count reaches zero that the release will be prepared through various release candidates and final testing.