The Technet FAQ on Windows 7/Server 2008 R2 Service Pack 2 shows a date of “First Half 2011”. Public beta is already released, and it could take almost a year to finalize? That sounds a little off, perhaps it is a placeholder? Sounds like a long time between a public beta of a service pack to final release.
Q: When will SP1 be released?
A: Service Pack 1 will be released within the first half of calendar year 2011.