Well, there wasn't a press release, but there was a statement released by Motorola.
Yes, but in that statement, they really didn't go into specifics. They said the Bioinc is going to be released. The "enhancements" means it is indeed different than the Bionic we saw at CES. As far as to what extent it is different remains to be seen. Depending on how long the delay is (middle of summer vs. end of) they may keep the same form factor and retool the innerds.
The most widely accepted explanation for why they are having to delay it is poor battery life & overheating due to the tegra2 & LTE not playing well together. If that is the case, look for them to switch to an OMAP cpu (unless it also has issues with LTE).
Beyond that I'd guess that they will try to add a few other hardware/software enhancements to make up for the delay.
In all of this I never stated/ thought that the Bionic was completely cancelled, just the current iteration of it. Again whether that is just internal changes or changes inside & out, there will still be a Droid Bionic. It's Verizon's name, they won't let that go.
On a somewhat unrelated matter, remember how everyone was shaking their heads as to why the Thunderbolt wasn't given a "Droid" moniker? HTC has one Droid phone, the Incredible. Now we have Samsung with the Droid Charge. I'm wondering if the Droid is going to mainly be for Moto, but there will be one Droid model from of each of the other manufacturers. Sound plausible?