According to the Wall Street Journal the Gphone has been delayed again. I'm starting to get the feeling it will be launched concurrently with Duke Nukem Forever.
Google has pushed back from their initial estimate of Summer 2008 to 2nd half 2008 to Q4 2008. And, according to the same story carriers and manufacturers believe that date to be unrealistic as well. China Mobile, long thought to be the frontrunner for the first Android device, will likely push into 2009 before coming to market.
Engadget chimes in with it's guess that the HTC Dream will be the first Android-powered phone and may hit the market before the end of the year. Personally, although I'm excited about the prospect of a google powered phone, I have my doubts.