It's always been strongly hinted at, but today at the Consumer Electronics Show in Las Vegas, Microsoft's Robbie Bach has confirmed it: Project Natal will be out this "holiday season".
Nothing more specific than that was offered, but we take "holiday season" to be "November". Guess the motion-sensing peripheral's other important aspects - namely its price, included games and final name (remember, "Project Natal" is just a working title) - will have to wait for E3.