Actually, the literal transelation of "TBA 2007" is "We have no idea when we're gonna release this game, but we want you to believe it will be this year." I learned that one from Twillight Princess.
As far as the update goes, I really won't care about button configuration until I pick up the game and play it. Sure it's a great feature. It's a great feature which is currently irrelevant to me, because the game isn't in my hands. Characters, stages, items, even music gives me something I can see or hear or in some way preview. All we have on this button configuration thing is a description of a feature which won't really matter until we've played the game at least once.
As far as the character select screen, how do we know that isn't just fuzz put back there to fill up space? Or a prototype character select screen? Maybe you're right, maybe it is really a blurred version of the character select screen, but at the moment it's all just speculation anyhow.
I don't mean to be a killjoy for those of you who are genuinely excited about this, but I am really getting annoyed at how the makers of that site pretend like we need to know the littlest details about the game, so as to stretch out the information longer. But of course, I'm sure I'll be just as enthusiastic as anybody once we get some more character info.
Andy