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I believe the set will eventually be delivered.  I would not doubt that the engine has already been manufactured when Lionel made the 612.  The product video shows the 611.  The video was created when 612 was shipped.  The hold up is probably with the aluminum passenger cars.  If I am not mistaken, the last set of aluminum passenger cars that shipped was the Milwaukee Road set which came out last Fall.  Since then, there has not been any other aluminum passenger cars that have shipped.  It took 3 years for MR set to ship, but hopefully, it won’t take that long for this set to ship.

This set represents a lot of what isn't quite ideal with overseas manufacturing logistics these days.  However, if you're a N&W enthusiast, it's probably worth stick ing it out since you've already waited this long.

For one thing, the #612 loco was delivered well over a year ago now.  And it's quite likely the #611 was produced then and now collecting dust -- not to mention the fact that the J doesn't come equipped with whistle-steam.  So that's another disappointment in it's own right.

As for the passenger cars... They're obviously the big hold-up, as every aluminum set has been delayed.  Shipping schedule shows Sept 2014 for the N&W set, Nov 2014 for another 7-8 sets (highly unlikely that they'll all ship the same month), and July 2014 for the Lionel CZ.  So watch for the CZ.  If that slips yet again, then that's not a good omen for the other sets.

The Milwaukee Road cars were cool, but not delivered without incident.  So perhaps Lionel is still working out some kinks with it's aluminum passenger car vendor (best case) or perhaps still shopping around China for another subcontractor to supply there aluminum passenger car sets (worst case scenario).  We probably don't want to know all the gory details.  It would be too depressing.

Welcome to the wild world of toy train manufacturing nowadays!

David

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