They're saying sometime in June ship date for the UMC-1 but its been a moving target for some time now. I'm on the waiting list, but I'll probably stand pat with what I have until they work out the bugs. I've learned that being an early adopter with surround processors isn't really worth the hassle.

That UMC-1 looks VERY interesting, but it is very much a moving target. They have added an HDMI input since the first spec's came out, and the release date is about 2 years late now.
I do like the simple rear panel design. Rather than a complete set of jacks for each logical input (most of which are never used) they just have a number of each kind of input jacks and assign them to the logical sources as required. Makes for a smaller and neater product. (Outlaws take note!)

Emotiva seems to have most of their product line on hold now (they are sold out on many things with the replacements not yet released). I wonder how they are paying the bills with lack of stuff to sell?

As I said in an earlier post, I got a bit burned out on Emotiva after the LMC-1 mishaps. That product development was so flawed (at least in my opinion) and the responses to the issues so hard to pin down that I want to see the UMC-1 get into the wild and used by some very savvy owners before I feel comfortable with it. I'd be happy to see some more good "high value" processor options on the market, and the specs suggest a very promising product. I just want to see some proof that the appealing feature set is partnered with good implementation. I'm also curious about the Genesis video chip that they're using (if I'm thinking of the right Emotiva processor), which is one that I've not really heard much about yet. After the Faroudja, Genesis has slipped behind some other manufacturers and needs to catch back up.

Well I wouldn't buy the UMC-1 until it had been out for a while and gotten several positive reviews, not after all I've read about the LMC-1. I should point out that at that time I also heard quite a bit of negative reports about the Outlaw 970 and several attempts to fix the firmware (I hope THAT'S over with!). Which is why I finally ended up buying a used Onkyo '701 receiver on Ebay. At this point the 990 looks tempting, but quite frankly still not quite cheap enough due to feature creep. IF the UMC-1 ISN'T crap or vaporware it's like 90% of the 997 features at the 990 price. (A BIG IF though).
And if Outlaw has a "977" up their sleeves in secret, well I'm just going to have to be patient I guess. The Onkyo '701 is still good enough, at least until I finally spring for a BD player to replace my Oppo '81 (especially if I augment it with some external power amps).