completely agree with you.
But frankly speaking even if they did launch it, it'll end up as a failure. it will be heavily underrated in india, where everyone looks for features.
For example, if samsung were to release it here, It would come at around 30000 INR, people would say they can pay a tad more and get xperia s which boasts a 12mp cam. but not many people here would know that the Gnexus running stock ics would perform better and be smoother than the xperia s.
They could have launched it before Jan, and they missed the spot.
Thats what happened to nexus s. Came here, was overlooked because the competition had 'Features' and was sent back