According to the article, director John Hillcoat said the film won't make its current release date -- it simply is not done. That's good news to me: he wants to get it right. I'm fine with waiting a little longer.
I think it is a good sign that it's being released in October. If the movie was complete crap, it would be released in August or in the first 3 months of the year. An October release says to me that "we think this movie has a chance to succeed and we're going to give it a chance."
It is all about how a film is 'marketed.' If the movie studio decides not to compaign the film for the Oscars, it matters not how good a film is. The film could be fantastic, but if it isn't marketed/campaigned, it will not be nominated.
If they're willing to wait an additional year for their returns, they must be pretty confident that it's a good film and will make additional profits. Otherwise, they'd rush it out right now, and cut their losses.
I think that they must be trying to gear this up for Oscar season.
Many films have been delayed and gone on to be successful. I don't think John Hillcoat wanted to rush the movie out last November -- it wasn't done. At least, it wasn't done as right as it could be. They pulled it and let him finish it. I think it's cynical to think that it was pulled for reshoots or because it needed a lot of work. As far as I know, principal photography ended on schedule and they went to work on post-production. This is not Gangs of New York.
I'm firmly in the camp that believes the delay is troubling but the timing of the delay is actually sorta promising.
I get the vibe that the first delay was unfortunate but that they're still trying to release it in awards season. As others have said, delaying the film a few months and dumping it off in January or February? That would be troubling.