Loo Loo - Completion date is now "last quarter of 2007". Which could mean completion in October plus 2 months to get Certificate of Completion. I have seen the development in February. I doubt it will be completed by August. Hence I estimate it will be done by October. There is no work done in Spain in September.
Plan for the worst - then you wont get disappointed. I estimate it takes around 5 to 6 months to get your deposit back even if you have your own Bank Guarantee. If you dont have your own Bank Guarantee you have to sue the developer which is an expensive and long drawn process. Some of the condesa buyers have the scars to show for it.