Release of the new operating system is due later this year. Whether Microsoft meets that date remains to be seen. But they're clearly headed in that direction, going all-in today with a major event (which is expected to run up to 2 hours) to present what they have. It will be streamed live, beginning at 9 AM Los Angeles time (with the pres-show stream beginning at 8:30 AM).
For those interested in such things, you can watch by clicking here. I've been informed by the oft-mentioned her Ed Bott that he has his seat and is front and center, so that fashion-watchers can keep score.... (He's on the left side of your screen, first row.)
If that link doesn't work -- CNET is having difficulty with their life streaming feed -- try this direct link here from Microsoft.
(Note: the clock below is NOT accurate. This is just a frozen screen shot of the event page.)