Activision Blizzard is currently holding an Asia Pacific press conference in Auckland, New Zealand. They have confirmed that SCII probably miss the 2008 holiday season and is leaning towards a 2009 release date.

Next year's offerings from Activision Blizzard should include highly anticipated PC strategy title StarCraft II, the sequel to one of the world's most enduringly popular games.

While this isn't a bold statement by any measure, it's nice to hear that communication inside the massive company talks in the terms of "2009" rather than "sometime in the distant future". Most predictions of StarCraft II's release date range around 2009, so fans will not get overly surprised by this announcement.
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