Well the devs confirmed on the Ubi site, a good couple of weeks ago, that work on 1.2 was underway. I think that should be good enough.
With these things, setting a hard-and-fast release date is hard actually. Imagine all the yelling that'd ensue if a big but fix-able leak was suddenly discovered a day before the promised patch date, and it'd take another 10 days to solve and test it properly?
These things happen! I think the devs have been screwed up enough by a hard release date set by Ubi; no need to constrain them again.
In all reasonable terms, and going by the SHIII experience, I would be surprised if we didn't see a patch by the end of the month. That's my educated guess