While you are correct that there is always the threat of a new competitor, it is taken as a natural reoccuring theme of said market. Having experience with the MMO market, I just can't see this being ready by Spring or Summer of next year. There is just so much more to it than translation and localization. Heck, just use the experience from EVERY other MMO that has ever hit North America. Even when all is said and done and everything is ready to go; on launch day EVERY single MMO still has problems they don't expect.
I see a lot of people on these forums saying the NA launch doesn't need a Pre-CBT stress test and CBT and just jump straight into OBT, but this couldn't be further from the truth. Therefore, as most of us dedicated fans here have said before, a little more patience is not going to hurt anyone.
Would I like to see B&S be released ASAP? You bet. But is it currently realistic? I personally don't think so.
BnS IS most likely going to need at least one closed beta, especially if people want it to be polished and, y'know, not buggy as hell upon release. It might not need as much prior testing as Korea had to, since we wouldn't be testing a brand new game like they were, but it's still going to need it. You know if they do skip CBT you'd have the same people wanting to skip it whining about bugs and server problems.