When I spoke to Paul about it at the FF evening, he said that the stories either clocked in at 8000 or around the 4000 mark. If we take 6000 as the average, then three people have to read a little over 10,000,000 words. That works out at about the Wheel of Time and Malazan Book of the Fallen combined - so say Marc, Paul and Jennie have to read a complete ASoIaF each.
Then add on the fact that not only do they have to read them, they have to think about each one too. And make enough detailed notes that the stories at the top of the pile can be judged fairly against the stories at the bottom of the pile. Also add on the fact that they've never done this before.
So if they haven't given a firm date or the estimated date gets pushed back, be patient! They know you are eager to hear the results and are working furiously to make it as soon as possible.
ps. I've read this back to myself. Suppose I'd better mention that Mr Nestat here hasn't submitted a story, just in case you were wondering!