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"When it's done."
The current official line concerning a release date is '''Q2 2012''' and that's as specific as it gets. Blizzard generally announces their release dates about two months in advance,[http://diablo.incgamers.com/blog/comments/blue-info-on-the-beta-end-date-release-date-and-d3s-full-game-demo] so fans are hoping/expecting to learn Diablo III's sometime in March or April, if the Q2 deadline is to be achieved.
Diablo 3 release dates are often given/guessed at by media sources and especially by software merchants. These dates have no authority and exist solely to spur interest/pre-sales.