I bought the student edition of Vista Ultimate back in the day and got my install discs a few weeks later. I bet they’re a overloaded at the moment and it’ll take longer for discs to go out.
At least the turnaround for getting my product key was fairly quick. They actually responded within 18 hours.
My main (only?) Win 7 gripe is that the Sys Tray customise list gets cluttered with apps that have been uninstalled. I’ve also seen more than one entry for the same app - Steam and the LOTRO dowloader, I think when they were cut off suddenly.
Recording from their hotline claims that the first shipment will be sent out mid-November. Also, proof of purchase no longer necessary. Seems like a bit of a scramble from them.