There are a handful of threads around about this.
In short it goes something like this:
Amazon put up iLife and iWork 07 pages a while ago. They were bare of any neat information though. I am not sure if they are still up or not, but it points towards iLife and iWork being released.
Some people (including myself) think that iWork and iLife will rely heavily on Mac OS 10.5 because of Core Animation and maybe other new technologies, so holding off on iLife and iWork until the release of 10.5 seems to be the general idea of when they're coming out.
You can use the search tool to go into more detail if you wish.