Charlie Demerjian from SemiAccurate claims AMD's Sea Islands GPUs are delayed to March 2013, about two months later than what previous rumors revealed. On top of that, he also heard that the new 28nm chips will not be as fast as promised, AMD initially told its partners to expect a 30 percent increase in performance, but "+15%" is more likely.
Sea Islands is not going to be a 2012 product, it is looking like a March 2013 release for now. Things could of course change, but that is unlikely given what the card is. CI is a 28nm evolution of the current 7xxx line of cards, think optimizations rather than massively new features.