FYI, for those who don't know, my perspective is from one whose normal job is a product manager, not a developer. My usual role is sitting with the developers and, based on the feedback from "the market," saying "this is great for now, please finish that for this release, and we can leave the other thing for a future release."
I think the current feature set, based on what I have seen (I do not claim full knowledge of the features of LEDE), are quite sufficient for a release. I think the goal of a "release" for a "product" like LEDE should be to provide a well-developed, well-tested, well-documented "snapshot" of the development at a particular point in time for others who want to either just put it on a device to use or to use as a stable starting point for additional development. I have to agree with weedy, though, that getting the bufferbloat improvements into the release would be a very good thing.
Into the future, I think it would be useful to simply choose a point in time for a "proposed" release, and evaluate the ongoing projects at that time. If the core features are in good shape, then we push to a release based on rough agreement on what's in, what's out, and what needs to be hurried up into the release. The time (every 6 months? 3 months?) just stands as a flag on the horizon so everyone has a timeframe to work to (if I want this in the next release, I need to get it integrated by May for the June release...).
Having releases far apart means the releases are more consequential - more new features and capabilities - but making them closer together decreases the penalties for "missing" the release, which I believe increases the overall quality of the code in the release. More frequent releases are a boatload of work, but, if you do it frequently, it becomes much more routine. The further apart the releases are, the more "startup overhead" there is in the release mechanism.
The other thing that frequent releases potentially help with is back-porting. If there's a critical bug found, back-porting, as ugly as it is, is probably necessary. However, with frequent releases, you can just back-port to the most recent release and go forward, because nobody needs to be "married" to a year-old release to maintain compatibility.
So my two cents worth is this: let's just do a release ASAP (preferably with the bufferbloat stuff in, if everyone agrees it's stable and working properly) and then do small releases every 3 months -in other words, have a fairly constant release cycle, with one going out the door and one coming up on the horizon all the time. Let's automate it (to the maximum extent possible) and minimize back-porting.
-Bill