I am starting to suspect that we will indeed never see the PR1.2, but that we will be graced by a PR1.3 or whatever it will actually be called.

Pure speculation, since this thread is about speculation, is that PR1.2 may have been slated for broad release, but instead transitioned into a Chinese language device specific OS (China, Hong Kong and Taiwan) where N900 was recently launched. Thus there is no more PR1.2, there is something else in the works.

In the vein of the overall N900 strategy, Nokia is now using the Chinese language PR1.2 to beta test it before making yet another version for the non-Chinese market release, who will in turn beta test this version before a new device is released... ;-)

V.