When I ordered back in November I thought the original delivery date was extremely aggressive but I was repeatedly assure that the dates were good. I honestly expected delivery in early February and I would still have made money. I also have a butterfly labs miner on order (at heavy discount due to their previous late deliveries). They are also 5 months late but they are going to deliver approximately 400% of the hash rate they originally offered (and have offered 100% refunds).
I understand that AMT may not have the money to offer 100% refunds immediately (this would be my preferred option at this point). I would take the the 6 months payout if I believed that I had a good chance of receiving the money, but I don't.
Not delivering a power supply and offering no refund for that cost is crazy.
Personally I think AMT should offer at least 3.6TH to replace the 1.2TH ordered. The difficulty has actually risen 8 fold since January so a threefold increase in performance is not even meeting us half way.
I do understand the difficult situation these guys are in, equally they should have some recourse to their suppliers (for example by receiving free chips from the chip designer).
I look forward to seeing some suggestions from AMT that give us some hope of a return of funds which they are required to offer by law.
I have brought things on Kickstarter and I understand the dangers of that type of purchase. This purchase was not made with those caveats and should not be subject to those risks.
I have to this point been extremely patient and generally supportive of AMT but I believe their current suggestions for resolution are a prime example of too little being offered.