I would expect 4 to 6 months before we see the Black (which stinks and strange that it's taking so long).
Early reports are that while it looks good (in my opinion as well), it's expected to be a bit more fragile due to design and had it been released a couple months ago, it would be stellar, but by the time it's released it won't be anything great.
Personally, I would prefer this over the Huawei. I know some will disagree, but pass over the Motorola name (not that great in phones these days anyhow), and the processor, and the Black is a better way to go. We know LG, we know how they operate and we know their phones (this will also have a larger battery). Give me Harmonia or Bumblebee on a Black and you have an awesome phone.
If I get one (most likely as I'm just not sold on the Huawei) and we can root it (most likely), there will be a Harmonia style rom for it as well. I'm sure either Obijohn or myself will get one or someone else will take up the cause.