Usually it's out mid to late July. Some places seem to get it before others. I know last year our local Walmart had it before Michaels did.
At the Wilton Homewares store it usually comes out when the tent sale is over.
I like to buy it, so I have it to reference. It helps out with ideas, and even if you only use a few little elements here and there, it's worth it to me. I get it with a coupon at Michaels, usually in late July. 
Great! Thanks!
As for whether or not to buy it--I love them! That's how I discovered my love for decorating! Not only does it contain a ton of different ideas but it has very detailed instructions making even the more difficult cakes relitively easy!
I only have them from 2003 but I'm thinking about getting some of the back issues from ebay or something...
HTH
I Love to buy them and keep them for ideas. Sometimes if I have a question, comeone will answer that there is a sample on pg somehting form some years yearbook and it is so handy to just go and grab it.
If you use a 50% off coupon, it is only around $7 and worth it in my book.
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