Time Capsule, you'll remember, is network attached storage (either 500 gig or 1TB) that is designed to work seamlessly with Time Machine. The idea is that you plunk one of these down on your network (or use it to create a wireless network) and then have all your Macs back up to it.
Many readers are asking us where the heck the Time Capsule is. Apple has a few more days before they miss their deadline, and if my order status is any indication those that ordered Time Capsules from Apple fairly soon after the announcement should see them ship on, or a tiny bit before, Feb. 29 (and they may pop up in Best Buy too).
I bet there are some people in Cupertino who are very glad 2008 is a leap year.