So after reading through the OP, and from listening to everyone's opinion here, I offer up this theory of what has caused the delay. (I like theories).
In the original contract, Google agreed not to include Wallet on the phone. It was a Verizon request, but I am sure it was worded in a way such that Verizon could not be blamed for blocking the app, and therefore no worries about violating Block C regulations.
Problem is, up until a couple months before the launch, Verizon thought they would be getting the API from Google for the secure element, in order to be able to use Isis on the phone, but it is one of the few things Google has not made open source. Google is pushing back on giving Verizon what they need. (This was the issue the Source talked about back in early Nov. that had VZW folks saying if it had been brought up during negotiations, Verizon would have never gotten this phone). They have been in negotiations ever since, with Google probably requesting either LOTS of money, or permission to install Wallet in exchange. (Or perhaps are pushing back on releasing the API at all). Verizon is holding up the launch because it is their biggest bargaining chip in negotiations.
Again this is a THEORY, but the leaks we have gotten from the Source do match up.