Ken Levine has released a statement on the Irrational Games site stating that Bioshock Infinite will not be released until February 26th of 2013. It was previously slated to come out at the end of 2012.
Since then, we’ve come to realize that some specific tweaks and improvements will make Infinite into something even more extraordinary. Therefore, to give our talented team the time they need, we’ve decided to move the game’s release to February 26, 2013. We wanted to let our loyal (and very patient!) fans know this as soon as possible.
As long as that extra work goes into making it as good or even better than the first Bioshock, I am sure the fans can wait another 2-3 months.