My dealer got some additional tagging info from GM:

By Jan 30 dealers will be notified what portion (if any) of their MY'08 allocation is eligable for the first round of tagging which begins Jan 31. (this is the first round and not all dealers can tag starting Jan 31 even if they have allocation for the model year)

Apparently the tagging will be staggered out in something like a lottery fashion.

If the dealer can tag, then on Jan 31 he can go to gminventory.com and select vehicle(s) against the various pattern groups/colors up to their tagging allowance. If the vehicle preference does not show up then the dealer can check back as new vehicles will be arriving at 2 week intervals. (apparently they don't loose the allocation if they decide to wait for a specific color/pattern).

I would suspect that the vehicles will then be shipped off to the dealers once the tagging is done. I'd guess they'd batch them into full train loads and send them out. (4 weeks from tagging to delivery depending on the dealer????). That looks like it puts it at early March.

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'05 GP GXP
'08 G8 GP (hopefully)
'93 Supra TT