Interestingly, the complete inability to meet commitments up to this point should provide a bit of hope. I'm sure the majority of people on these threads know that a status report should have been provided on July 5th, no excuses. Unlike parts being delivered or certification completed, the production of a status report is entirely under DR's control. Even if the status report was "nothing new to report, we are working hard and hope to have meaningful information in two weeks and will provide a status report on the 22nd", that would be fine. I know some people will say no need to report if nothing has happened, but, quite frankly, that is incorrect... a commitment is a commitment.

However, this may well be the mindset at DR. Therefore, the fact that a status report is late, while it rightfully pisses you off, is not a good indicator of anything. They could be preoccupied making games or closing shop, impossible to say based on a late status.

Visa and Mastercard are independent entities from banks, (BofA, Wells, etc.). The card company (Visa) may issue a refund; however, the investigation of a fraudulent charge and final approval (excepting various appeals processes) falls on the bank. Hence why you have the situation where the card co (Visa) said Ok, but the card issuer (BofA) said 'wait a minute'. While there are a number of t's and c's that are fairly black and white (like how long you have to claim a refund) the signed agreement does add an interesting wrinkle.

I have no idea what the agreement says and, therefore, what preorder people actually bought. Did they buy a game or just the right to reserve a spot in line to procure a game at a given price, if and when the game was produced? If the later, then DR and the bank could reasonably argue that the obligation was met per the agreement the customer signed. (Regardless, as ZNET notes, the ability to obtain a refund wouldn't make any difference .)