Man I wished I found this earlier, or even heard about it earlier since Canberra is less than a day away from me but alas, anyway Graver was downunder in May this year and had this to say:
Q: "The Other Side of the Wind has become the great mythic project, because it seems to be the 'lost' Welles film we're most likely to see. We keep hearing rumours it's going to be released."
A: "[...] it's supposed to happen June 2007, through a cable company, with theatrical prints for the major cities with specialty theatres."
whole thing here