PB G5 15" thoughts...
The longer Apple waits to update the 15" PB, the more likely it will be a G5 for lots of reasons.
1. The 12" (or perhaps the 17") motherboard could fit in the 15" case, so from a tech standpoint, I can't see the motherboard design being 6+ months behind that of the 12" (or 17"), it would be nearly impossible to be that far behind.
2. Steve wants to be the first to ship a 64 bit portable. (No one is closer than Apple now).
3. Bluetooth, AirPort Extreme. Plenty of people want those in a portable, but don't want a 12" screen or a 17" screen. (me for one

).
All this points to the fact that something significant is going on. It is something like the G5 or, perhaps, a higher-density screen. I doubt it would be the higher-density screen because that should NOT be that huge a tech issue, and I can't believe they'd delay the product 6+ months for that when they could've shipped it with a regular screen and then updated it now.
My scenario about the 15" delays is this:
They intentionally held back on the 15" in Jan/Feb 2003 and kept it as it was so that if there were huge problems with the 12" and 17" (e.g. long(er) delays, engineering/manuf issues etc) they'd have a proven machine that was shipping. They were planning that the PB 15 was supposed to be updated in May at WWDC with a G5 (or very shortly thereafter) and so didn't waste any design and engineering resources on updating it to the specs of the current 12" and 15" because (back then it would have been May 2003 for WWDC, so only about 3 months wait for it). They intended to make it the 1st 15" G5 and have it ready with the PM G5s.
However, they are a little behind for some reason, just like they were with the PM G5s - that's why they pushed back WWDC a month.
Until they know when they can ship them in volume they're not announcing it for at least two reasons: avoid killing 12", 15" and 17" sales; and so they'll get even more bang for the buck when the announce "the world's first 64-bit portable," just like they got with the "world's 1st 17 inch portable". It will be on its own and won't get overshadowed by the PM G5s.
Face it, Apple loses sales because of some of the factors above and they don't want to lose sales. Therefore there is some BIG reason for the delay. The only logical one is a 15" PB G5, followed as quickly thereafter as possible with a 17" ("The world's 1st 64-bit 17 inch portable) and a 12" ("The world's smallest 64-bit portable). Followed thereafter by G4 iBooks.
I can see a 15" PB G5 announcement within 1-3 months (e.g. by the end of the summer). Apple *has* to do something to update the 15" PB to current specs (speed, AEX, Bluetooth) and if they've invested engineering in the PB G5 they don't have time to go back and do the engineering to make it a G4 - which is why I think it will be soon. If it was going to be > 3 months then they'd have time to do a 15" G4 to match the 17", BUT then they would've done it well before now.
I don't think it is wishful thinking because Apple is not dumb. They wouldn't hold up 15" PB sales for more than 6 months without a great reason. (Plus I read somewhere that 15" PB supplies were low.)