Later rather than sooner, although I doubt Google has any real idea on
this.

Android is a big software stack with a lot of technical risk, and like
all such developments will require extensive end user/community
testing to bring it up to standard.  iPhone was delayed along similar
lines, but Apple wasn't trying to simultaneously build a community of
developers at the same time.

Hence we should expect to see the first developer devices long before
we can expect any kind of volume in the shops (and subsequent
application revinue).

My advice - don't be in a hurry

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