Apple will launch the store in the new year.
While a specific date was not given for the official opening of the store by my sources, Apple will meet the 90-day deadline given during its October "Back to the Mac" media event.
MacRumors points out that a January launch would allow time for 10.6.6 to finish testing and be released, which I think is a logical reason. It also point out that we already know that the iOS App Store won't be reviewing apps over the holidays (shutting down in a week or so), so it wouldn't really make sense to launch the Mac App store just before people go on holidays.
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