I'm looking forward to the updated firmware, for me I'm looking for the ability to rate photos; faster burst rate, quicker zooming, panning, the time zone setting is handy as lower end cameras had this option. The video updates sound fine, but I don't use that function enough to get too excited about it- I suppose when I'm recording a waterfall I can turn the audio down a bit.
I too am wondering why they are waiting on releasing it. I'm sure this is to hold people who want to upgrade to the next 7D as I'm sure there's a delay in the mkII.