The good news is based on Tweets from attendees at the first panel (there will be a couple more today) the footage looks amazing! People are saying it looks even more three dimensional than TPM.
The bad news? No release date. The only hint given was from Dennis Muren, who said that TPM took about a year to convert and AOTC will take about the same amount of time. I know they started on AOTC early this year, which would make the earliest release date February 2013.
Update: Bombad Radio has audio of the panel here.
Update 2: IGN thought it looked great too.