Looks like the rest of this year's Palm products will be forced to stick to Garnet OS and Windows Mobile, because Palm OS II won't be available until 2008. Despite its May announcement promising Palms running the new OS late this year, a comment by CEO Ed Colligan officially pushed the release date into next year. Palm's new OS II is not seen as a replacement for Windows Mobile, rather a more consumer-centric OS, while Windows Mobile is to carry on for the more business-minded Palm users.
Palm has kept OS II largely under wraps, but the company's early plans for the upgrade include faster application switching, better power management and improved multitasking, such as being able to handle voice and data calls simultaneously.
Palm OS II Delayed Until 2008 [CrunchGear]