How many iterations do you suppose there have been already? Do you suppose they were all high-volume "bullet runs", each with its own full-wafer mask set?
This whole "bullet run" story Inaba/BFL_Josh told us stinks. You don't pay shitloads of money to bullet run a full lot (batch) of wafers just to figure out that your design is borked. There are always test wafers and test runs. Once your chip is OK (working prototype) you go into mass production.
Sane Conservative hardware developers don't do things that way, but maybe BFL does?
It's pretty apparent by now that BFL as a whole seems to have a bit of a "cowboy attitude", much as is shown on their public face.