I don't think it's that far away now.
I've been running it on my 1020 for the last few weeks, and I have very few stability problems. It's fast, as fast if not faster than 8.1.
The new apps need a lot of work, they're not ready or stable. Some are readier than others, of course. But the underlying OS works well for the most part.
What it does need most is more work on the visual side.
And yes, if you have used it for a while 8.1 does feel old. Not a popular thing to say, but it's a good step forward from a design point of view. At least it will be if and once they iron out the inconsistencies between old and new.
Yeah, they are certainly at the point of time where the base is in place and they just need to update the face.