It's not the first time Capcom has delayed a Mega Man game.
In 1993, they delayed, and finally cancelled Mega Man 6. Nintendo eventually decided to release it themselves.
In 1994, Capcom was supposed to release Mega Man: The Wily Wars for the Sega Genesis in the US. 2 delays later, they eventually decided to scrap those plans and to make it an exclusive to the Sega Channel.
In 1995, Capcom also delayed(twice) the release of Mega Man 7, in fact eventually cancelling the release altogether. Thankfully, the fans cried foul, and Capcom reconsidered.
In 1997, Capcom was to release a game for the Playstation called 'Mega Man Battle and Chase'. In fact, they had a date set, and even had print ads out in magazines. Unfortunately, Capcom cancelled this game at the very last minute(rumors point to Sony's meddling).
So as you can see, for fans of Mega Man, this is all nothing new.