From EA's Battlefield Newsletter interview sounds like the team is shooting for a Spring 2005 release.
LARS: Battlefield 2 will ship during the spring of 2005, so while the whole team is working hard to get all the features and content in, things are coming together to shape the game that we set out make. I think that right now when we are testing, itís all the new high-tech weapons that thrill me the most. But if I step back and look at it on a larger scale, itís the improved teamplay with Squad and Commander that gives the gameplay a totally different feel. Thereís nothing like having a good Squad that you lead into battle.