Sony were right to point out that God of War III was only due this fiscal year, not calendar year, as the game has now been given an official release time frame. And it's March 2010.
Which will no doubt disappoint God of War fans hoping for some Yuletide carnage on the PS3, but then, God of War fans should know that the last two games were out in March as well. So don't look on this as a letdown. Look on it as a game simply fulfilling its destiny.