SimsVIP just posted the following bit of news.  It appears that a swedish retail site Webhallen has posted the cover art as well as the product information on The Sims 3 Generations!  It looks as if it will have a June 2011 release date.  No exact time just yet (I suppose the May 10th date no longer applies)

http://farm6.static.flickr.com/5029/5589433752_385713fa56_o.jpg

Enjoy a whole spectrum of rich life experiences with your Sims!

Start off in the imagination-fuelled world of childhood and embrace the drama of the teen years. Experience the complicated realities of adult life, then reap the benefits of growing up in each life stage. A wealth of new options and activities makes your Sims’ lives more meaningful than ever before, whatever their ages. With new celebrations, dramatic life events, and all-new ways for your Sims to express their creativity, The Sims 3 Generations lets your Sims live life to the fullest!

Features:

  • Sims of every age can enjoy new activities! Kids can hang out with friends in tree houses. Teens can pull hilarious pranks. Adults can suffer midlife crises. And so much more!
  • Whether it’s a raging all-teen party while the parents are out, a high school graduation or an official wedding ceremony, new celebrations make every age more fun!
  • From bachelor party hi-jinks to getting in trouble for bad grades to hearing rumors around town about Sims who cheat on their spouses, hilarity ensues when new drama unfolds!
  • Sims will enjoy all-new ways to be creative including tinkering with chemistry sets, making their own home movies that they can watch on their own TVs, playing make believe as an astronaut, dinosaur, princess, and more!
  • All of the new activities, celebrations, and drama are easier than ever to remember and reminisce about with a new Memories system that keeps track of major life moments and also lets you share them on Facebook or your Sims My Page!