I think it'll come out before Christmas, even if it ends up getting rushed out the door. Kids are going to want it, and hopefully it'll push Wii U sales.
Also as a side note I know for a fact that I'll be getting both. I decided a long time ago that I'd rather play $100 for a single game that I know I'll really enjoy than $100 for two (or even four, or even twenty) games that I'll play for less than an hour and then abandon. It's a bigger upfront cost, but in the long run it's more fun for your money. For those of us who have money to manage, it actually makes more sense to throw money at a known good thing over wasting money on games you'll never want to play.
I compare it to the price of a movie ticket. Movies around here are $11 a ticket, so that's $11 for two hours or $5.5 per hour. Compare that to a $60 game, then there's a minimum of ~10.9 hours fun time required for me to consider it to be "worth it".
For games like Pokemon where my playtime is in the hundreds of hours for a $40 game, that's clearly worth the cost of admission. I've probably sunk about... huh, 750 hours into Chrono Trigger (my favorite game by leagues) and I think I payed about $50 for that. If you think about it in terms of "fun efficiency", a really good game is well worth the price. For Smash I've sunk a lot of time into both Melee and Brawl, but most of that was on my friend's version so I have no idea what the actual time is. I only know that it was "a lot".