According to Beet.tv, who have a video interview with Chris Hock, the Adobe Media Player will be delayed until next year. A beta is expected this year.
I'm not sure if the player had been announced for this year or not but in any case it's not long now, even if the release is indeed pushed forward a bit.
I have been lucky enough to see some demos of the Adobe Media player and it's a very nice app and worth the wait in any case ;-)