Valve's Gabe Newell seems bent on creating as much confusion as possible regarding Half-Life 2s release date. In a recent interview to Polygon magazine, Mr. Newell suggested that the company was determined to do what it takes to ensure H-L 2 is the ultimate first person experience when it's released and he included the possibility of delaying the game until 2005 if that would help its development.
When looking at the interview however, it seems that the comments were made in the context of a hypothetical extreme, in order to stress Valve's commitment to the title rather than as a realistic prospect for the much troubled sequel. It is however unfortunate that hypothetical extremes now seem plausible when considering the downward development spiral that Half-Life 2 has been in.
Here is the full, relevant, quote so that you can make your own minds up as to what exactly Mr. Newell may have meant:
We've already spent millions into this project, and we're willing to spend as much as we need to make this the best first-person experience ever. If that means delaying the game to 2005, we'll do it without any hesitation.
If it means sinking another USD 20 million into the project, we can do it. Rest assured, if we delay the game, it'll be only to blow your socks off even more when it finally releases.