This information jives perfectly with everything that we've heard about ICS and the Nexus Prime/DROID Prime, which will be the flagship device for the new version of the OS. It's definitely good to hear that everything is still on track. And, even better is the bit where Eric said it may be released in November, meaning that Google is not rushing the device for an arbitrary meeting with the iPhone 5. Rather, Google will be focusing on getting its own software right, not worrying about a competitor that continues to fall behind in market share (and to the oncoming comment flamers, please note we are talking about market share, not features, quality or anything else. Those things are opinion, we talk in hard numbers.)
The interview with Schmidt is very interesting, so if you want, we've included the video below. The comment about ICS is at about the 30 minute mark.
source: Android and Me