I do figure it will come out by the holidays unless Moto or Verizon run into a snag. They may also want to hold the release a little bit since the Bionic just came out. The screen and build all sound awesome as Moto knows how to build a high quality phone when they want to.
As for the battery, sure the internal battery has not hurt iPhone sales, but people don't buy the iPhone for the features. Most people buy it because it IS an iPhone. Apple could make it out of gravel and people would still buy it. Now the big hurt here would be LTE. There is no LTE iPhone (released or officially announced) yet and we know what a burden LTE can be on the battery, so a non-removable battery on an LTE device where nearly everyone wants extended batteries, it may be a harder sell (not for the iPhone, as everyone will still buy it because it is what it is).
I think Moto could get away with it if they managed to fit an 1800mAh or larger lithium polymer battery in there and offered an extended battery that somehow clipped or attached to the back of the phone like a piggyback battery, but was styled to match and was super thin. Until we get a rear view of the actual phone, it will be hard to tell what they have planned.