It's easier to understand and accept the schedule from GWT project (or any other Google or driven-by-Google-culture project) when you apply the Valve time calendar to it. Yes, Valve is the pioneer (that's why the calendar received their name), but a lot of companies and groups use that calendar,
deliberately or not.
At GWT.create it was said the target was to release GWT 3.0 after Google I/O. Then it was changed to release a 2.7 version shortly after Google I/O, and GWT 3.0 on GWT.create 2015. Well, using some Valve time rules, I'd say we probably will have the 2.7 version about two months after GWT.create 2015.
More about the past plans:
http://blog.oio.de/2014/03/31/upcoming-gwt-releases-2-7-3-0-2014-beyond/More about Valve time:
https://developer.valvesoftware.com/wiki/Valve_Time and
http://www.urbandictionary.com/define.php?term=Valve%20TimeOf course, the Valve time is as inaccurate as using CSS layouts on IE6, so there are chances we get GWT 3.0 like tomorrow (in actual time). But I wouldn't bet on that.