Anyone who reads "Assuming the average render speed stays the same, the PCs should be done with the animation queue on February 7-9 at the latest" and thinks that a February release is even remotely possible is crazy. Firstly, per the laws of the universe, "February 7-9 at the latest" means there is no chance it finishes before February 9. February 10-11 is itself optimistic. Secondly, is the thought that by the time the animation queue is finished everything else is also going to be finished? I don't think there is any reason to believe that. I'm sure DPC will find plenty of things to add/remove/change/playtest between now and then. Thirdly, what about beta testing? Zero-shot that takes less than two weeks. I'd leave 2.5-3 weeks. Fourthly, he only releases on Fridays. Even in the non-existent world where he finishes the update in late February, do you really think he would release the update on February 28 instead of collecting another month of pledges?
March 21 feels borderline optimistic but we then get into the issue of if it takes until March 28, does he then delay until April to get more pledges or is that a bridge too far? It was clear many months ago that March was the best-case scenario and this progress report all but confirms it.
These updates have gotten far too large and unwieldy. For the love of God, split them up into parts like other devs do. At this point, the next question is does Ep. 12 take a year and half to develop?