Well, I'm hoping for a Christmas release, but then I've been hoping for that for about 10 years.
Part of the problem is that the playtesting has been almost all pbem. You get a good record of play, but it takes forever.
As for bugs, yes, much improved from the original Over the Reich and Achtung Spitfire. 3rd edition rules are a refinement of 2nd edition rules in Whistling Death. Most notable changes are the new defensive gunfire arcs, now defined by clock position as opposed to the old "front, left/right front, rear, left/right rear," etc. and the vertical limits being defined by increments per hex. The new way of calculating defensive fire now reduces firepower based on deflection as compared to the old method of increasing the defense value of the target. The result is that fire from multiple a/c is easier to figure. Also, the FATT (Flight Attitude Transition Table) has been revised and simplified. Weapons data has been revised from previous editions. Plenty of new chrome as well.