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Per the ThinkFilm site, the theatrical release of The Aristocrats is fast approaching:
July 29, 2005 in New York & Los Angeles
August 12, 2005 Nationwide
The running time for the theatrical release is 86 minutes, but I've seen Penn quoted as saying the DVD release will be loaded with bonus footage. Christmas 2005 has been the DVD release date that I've seen.

I think it's safe to say that I've never anticipated the release of a film like I have The Aristocrats. If you don't know what this film is all about, read my previous entries on the subject:
To get a taste of the material, check out the South Park clip (which I'd host, but I don't know what my bandwidth limit is.)