It's convenient that the delay means they won't be battling with Crysis 3 and Aliens: Colonial Marines for attention - it also puts them further away from the release of Tomb Raider, Dead Space 3 and SimCity. They'll be up against Metro: Last Light but that's a much smaller franchise being backed by a much smaller publisher. The only fly in the ointment could be GTAV, which is due in Spring 2013 (a vague window).
As for the game itself, the number of delays and high profile departures is quite concerning. The game looks very linear and the graphics are far from revolutionary, which leaves the narrative as the selling point. It's still on my radar but I have to say I'm not hugely optimistic.