I took the average time between OTA releases on the Bionic and came up with the projected release date of September 12, 2012 for ICS.
Externally it seems positive to me. Motorola does its work and finally turns it over to Verizon for their approval. Verizon then works on getting their pre-installed software checked out on the new base.
(The way to make the Verizon work happen faster is to get them to minimize the amount of pre-installed software. It must be working for them because they keep doing it.)
There are some people who think "magic should happen" and the updates should be created instantaneous and released bug-free to millions of people.