https://www.youtube.com/watch?v=yAGDCCdWjoQ

IT's not released yet.
 
Press release says Summer 2015.
 
Guitar Center has a link for the Rack Version on their website you can preorder the Rack version.  http://www.guitarcenter.com/Line-6-Helix-Multi-Effects-Guitar-Rack-111268934-i4318300.gc
 
says it will be available 10/8/15.
 
there is not listing for the floor model Helix, no date of release either. 
 

The Helix was at Sweetwater's GearFest.
Tried twice... but couldn't get close enough to check it out in detail.
The couple of short moments where I could actually hear it... it sounded pretty decent.
 
Given the price, Helix will compete with Axe-FX and Kemper.
 
 
 

I have not yet bonded with amp sims. I particularly do not like the clean tones I get out of them.
 
Having said that, I was recently at the local farmers market and a guy was playing guitar along with a backing track. His clean tone was amazing. I was looking for which amp he was using. Perhaps a Fender or a Carvin... Nope. It was a line 6 floor pedal thingy. Perhaps an HD500. I couldn't believe how good it sounded.
 
I bet Line 6 will do very well with the Helix. 

curious about this as well and vs an axefx. I may not wait and just snag an axe fx

There are a lot of comparisons on youtube between the line 6 and AxeFX. The AxeFX is a lot more money and I don't easily hear a difference in the amp sims. OK. They sound different but I would have a hard time saying which one sounds better. Heck, I still use my tube amps, so what do I know.
 
Effect wise, from what I have read, the AxeFX is the best. I would be curious to hear how Helix may have advanced in this area. Again, neither device currently appeals to me but I do like reading about them.
 
Some day I will probably get tired of dealing my my tubes amps and I will have a device like this.

If you like the sound/feel of quality tube amps... you should checkout the Kemper Profiling Amp.
Especially nice if you take the time to extensively profile your own amps...
One of the best musical purchases I've ever made (recording bass/guitar is super easy).