If anything it's only getting closer and closer. Every day brings us a step towards skyward sword. I find it hard to believe that the date is getting farther away unless the dev team is in real trouble and ran into some major issue, which is not the case as far as we know. I remember they said they were polishing the game and adding dungeons and bosses. That must mean all the main game mechanics are ready, or else they wouldn't have been able to show us that demo at E3. So no, I really don't think they will run into anymore major issues, the game shouldn't be delayed and with luck we should be seeing the game in march or something.