It's out but don't download it? VRZ wouldn't push it out if it's causing more problems than it is fixing.
Yeah, if there's one thing Verizon is notorious for, it's OVER testing, not under testing. Although any major update is bound to cause problems. One of the drawbacks of having a fairly open OS with multiple apps that have different levels of permissions and system access, all while interacting with Verizon bloat and the normal android stuff (and TouchWiz) is that there are bound to be issues with major updates on a good amount of handsets. Updates are slightly more regulated and controlled within Apple's ecosystem, which is one of their advantages. Like most of the folks here, I choose the customizability over the ease and convenience of a tightly controlled ecosystem, but I also accept the cost, for the most part. The crap manufacturers and especially carriers add to the mess makes it a LOT worse than it needs to be.
Honestly, though, 2.2 is quite good, and doesn't need much "fixing". I have ran Gingerbread and don't find it quite as significant of a jump as going from 2.2 to 2.3. 1.6 to 2.1 was substantial. 2.1 to 2.2 was also substantial (flash, apps to SD card, multiple google account support - even calendars, much better event/contact creation, and a lot more). 2.2 to 2.3 adds some good stuff for sure, but nothing I actually NEEDED. I really really wanted flash, and I actually truly needed multiple google account integration without using a 3rd party app. And with a Fascinate, unlocking the SD card to more apps will be very useful when that relatively small 2GB fills up. In addition, there is a substantial list of apps that work better (or possibly even only) with 2.2 than 2.1. In comparison, I know of only a couple that really "need" 2.3 to work properly, despite 2.3 being released on a lot of new handsets.
2.2 got a LOT of excellent market saturation, and thus has a huge developer and support backing. But there are some advantages to 2.3 not being quite as drastic of a change - more stuff will make the transition easier.
Regardless, I am just happy VZ and Sammy are continuing to support this phone. I realize there were a lot of upset folks because of the delay to get 2.2, and rightly so, but the support has been there. Samsung even released 2.2's legit source code to the developer community, from which we have seen some absolutely sensational ROMs, such as the Community ROM. I expect them to release 2.3's source code as well. Samsung is lately redeeming their lateness with me by still being one of the most dev friendly manufacturers out there. Even HTC has some tightly locked bootloaders now. HTC, Samsung, and Motorola are the worldwide android giants, and out of all of them, timelines and TW aside, Samsung has definitely been overall the most dev friendly.
I can't wait to see what the devs do with 2.3 source code! That is gonna be a party day for rooted Fascinate owners. HECK YEAH!!