I think part of the reason we were all hoping for more frequent releases was because, despite the fact that pg explicitly described arc as a 100-year language, he also stated that his design philosophy involved rapid iterations.
"I like to find (a) simple solutions (b) to overlooked problems (c) that actually need to be solved, and (d) deliver them as informally as possible, (e) starting with a very crude version 1, then (f) iterating rapidly." http://www.paulgraham.com/newthings.html
I actually think was a good plan, I just wish pg were able to follow it ;-) Even small improvements or bug fixes would make the community feel engaged.
