Has anyone any idea when the next PR update is going to take place?

I've a few sites that I launched over the last couple of months that still don't have any PR

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The PR update is not a priority for Google, according to GoogleGuy so I think we are going to be waiting a while for the next one.

Here is my take on why he stated it isnt a prority. After the rollout of the BigDaddy update it caused a huge mess with their index, sites lost PR and had been dropped by the index. Now GoogleGuy did state they should have the update tweaked or fixed by the end of summer time (september) so I think this tweak (fix) is their main priority for now.

Its going to be interesting when the updates start rolling out, I have a big bottle of headache tablets just for the event

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That's a bit annoying, as some of the advertising programs I use rely on PR to determine pricing

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Yes it is very annoying for a number of reasons and one being the example you stated, advertising on a PR basis. Another reason is that you dont know if Google actually trusts your site so you dont know if your site is OK or not. One of my sites lost its internal PR and I have no idea if it was because Google doesnt trust the pages or if it was because their index is broken.