December release seems to be more likely, while I personally hope November is the release date. By the way, if Episode 2 has been in development as long as Episode 1, then how much would they have done by now? Different teams are doing it, so I PRAY this means that Episode 2 will have at least one more chapter then Episode 1.
I agree actually, Episode One was finished a while back and they were working on Episode 2 at the same time (I mean that trailer even showed that they have a pretty clear idea of everything that's going on).
I would find it extremely amusing if VALVe releases it before Christmas.
As in, they're trying to better the whole "They're always late with schedules.." reputation. They've got it 60% done, they said Christmas, but they'll release it sooner? It'd be funny...