Ghostcrawler provided a bit of an update yesterday on the ETA of WoW Dual Specs. He makes it clear that while they'd love to have them in patch 3.1 (which is when we'll see Ulduar and some other post Wrath), he doesn't want to say something and then not deliver - only to get players upset.

WoW Dual specs are a feature that's very much looked forward to by many players, in particular tanks and healers. No longer will players have to spend horrendous amounts of gold just to enjoy both solo content and group content. The introduction of them will truly be game changing for many folks.

I'm keeping my fingers crossed that we'll see dual specs appear in wow 3.1. The 3.0.4 PTR should be coming around shortly, and I wouldn't be surprised to see a 3.1 PTR shortly after the beginning of the new year. So maybe if I'm lucky around February or March next year I won't be spending 400g/week respecing.