Microsoft admitted on Monday that Memphis--the code-name for the next version of Windows 95--may be delayed until 1998. Apparently, the software giant began warning hardware manufacturers and ISVs that the new operating system would likely ship in 1998, not 1997 as planned.

Here's an interesting twist on the Memphis story I had never heard before: according to Frank Michnoff, an analyst at Donaldson, Lufkin & Jenrette, Microsoft is expected to give Memphis to existing Windows 95 customers for free. I suspect he might be confusing Internet Explorer 4.0 with Memphis, but you never know