He actually has been very transparent about what is going on.
I don't think that's an excuse for delivering hardware 12 months late.
The posts about the Monarch really sound identically to the posts which we saw with the 65 nm prodcuts. "Just a small tweak", "we are almost there", "minor PCB modification", "oh, another firmware tweak", "small problems with VRM", "adding clock buffers" etc. etc... In the end all those
very minor problems sum up to 12 months.
And BFL insisted the Monarch will not have any delays because of the experience from the 65 nm products. You must have learned a lot.
While I'm looking at the landing page: "The Competition - at least $ 17.50 /GH". What?
The Antminers S1 last price was 1.3 $/GH/s. Your Monarch is two times more expensive. The Antminer was already deliverd. There is no sign that the Monarch will be delivered anytime soon.
The BFL homepage is full of deception. Why does BFL need that? Other vendors just sell hardware, why can't BFL do that?