I am actually, under the assumption she has actually completed it and it is in the editing/publication phase, but with all the hype around new moon and Eclipse they are waiting for any formal announcements. WHEN (I pray WHEN and not IF) they do announce that she has completed MS, it will mean a lot of publicity and more tours, etc. I know as a mother of two boys, now grown and gone, that being married and raising three kids is a life in and of itself, so I would bet she really has to manage how releases happen so as to allow for a semi normal life, for them anyway.
If you notice, we have heard NOTHING of Breaking Dawn yet either. Again, I assume they are waiting to see what there budget will be after the proceeds from New Moon and maybe even Eclipse before they commit to the task. I believe Ms. Meyers to be a very savvy business women (or at the very least, surround herself with very savvy people) and timing is everything. But for us twi-obsessed it if very difficult to wait...I unlike you was not able to wait. MS as it stands is utterly AWSOME...it is impossible to believe how just a few chapters can totally draw you in...even in its draft form, it is a wonderful insight into Edward's mind...It actually HELPED me get through New Moon. I could actually understand WHY he left her and what he was trying to accomplish. It is very good, even in its limited capasity.
Also, again ONLY my opinion, I have no knowledge of this...But i honestly believe that R. Pattinson had to have read MS. For him to nail the facial expressions, mannerisms and exude the amount of emotion he does in Twilight, well, I just have to believe he read the draft. IF NOT, my bad, and he is even a more monumentally gifted actor/artist then I already believe him to be. Good luck holding out. You are a stronger person than I.
btw...TMAL is pieces and parts of who I am. Thats all nothing more. Thanks for replying. People at work get sick of hearing about it so it is nice to write with those who appreciate the whole Twilight World.