On the official forums, Mark Rein popped in to settle a debate on Unreal Tournament 3 countdown timers. But in doing so, he kind of killed the party:
We do not know exactly when the game will be completed. All we've said is that we're hoping for a November release but as you know we value getting it right over getting it right now so there's no guarantee of that.
Truthfully, Epic may be better not releasing the game in November. Sure an 08 launch would cost them the holiday season, but there is plenty of competition on the store shelves in the coming months. But we hope not, because all that slower paced Halo 3 multiplayer will get us craving some crack-on-speed UT3 gameplay.