I know that Amazon isn't the most reliable source for release dates, but it gives Dec 31st 2013 as (preliminary) release. http://www.amazon.com/The-Last-Guardian-Playstation-3/dp/B002BSA18K/ref=pd_sim_vg_26
So I guess we can expect it sometime in early/mid 2014, maybe for the next gen. Hope dies last! I've been excited ever since this game was announced, and while waiting more than a year is pretty hard, at least the game isn't dead.
All my hopes and prayers got to Last Guardian, FF14 (PS3 release) and FF Versus 13, may we one day hold them in our hands.