I sent my LCP out on January 8, 2009. I've been sort of expecting it this week until I went to the mailbox today. I received this card from them:
We are currently experiencing a delay in the delivery of a key part needed for the LCP Recall. This has set us back on the retrofit of your LCP. We are working diligently to resolve this issue and as soon as we receive the parts needed, your LCP will be repaired and returned. We estimate a 4-5 week delay from the time your LCP arrived, as we work through the backlog of returned LCP's. We value you as a customer and we sincerely apologize for the delay and ask for your patience in this matter.
UGH

My calculations say I have 2-3 more weeks to wait.
They should know exactly how many LCP's needed retrofitting.
I'm guessing:
(1) Someone underestimated the percent of owners who were actually going to send them back, so they've run out of parts inventory faster than expected.
(2) Problem with part's supplier
(3) Parts inventory exhausted from production of new LCP sales based on the current gun sales peaks.