a. Continue with the current release and push release date to mid 2012
b. Release in 2011 with reduced feature set (many features pushed to Java 8)
Today plan "b" was chosen. The JDK 7 Features page has been updated to reflect these changes.
I'm glad to see Project Coin is going to be included. Notable features from that JSR are ARM (auto-resource mgmt), Strings in switch, improved generic type inference (aka "diamond"), and improved exception handling. ARM will be very nice to have. Diamond will be nice as well, although Google Collections currently has pretty good type inference shortcuts. I'm also very glad to see that Fork/Join and NIO.2 are in as well. Disappointing but not surprising Labda and Jigsaw are out until JDK 8. Overall I think there are enough new and useful features that many will upgrade from JDK 6. I was thinking that the lack of closures might make me wait for JDK 8, but they left enough in this release to make it worth the download. That said, I have the feeling that this, along with other recent Oracle/Java news, will cause a spike in the adoption of popular alternative JDK languages like Groovy and Scala.
Edit: Also, here's my obligatory that Clojure is also a JVM language, so that I'm not accosted by Raynes.

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