Yes it is out but the server software has yet to have been released.
There is a very simple way of downgrading your client if you have accidentally upgraded.
Its very simple! Open your minecraft client and hit Edit Profile then under version select release 1.6.4 then save profile AND BAM you are back on 1.6.4
--- EDIT ---
Many people have asked me why we have not updated to the 1.7.2 compatible version of bukkit and I have this simple answer.. It is not a full version so therefore it will not have 1.7.2 updates nor is it stable or supported to update to it.
I do not want to update Rage to something that would hinder gameplay whatsoever.. There are no benefits from updating to it you cannot use any of the new content so it seems pointless to me to update it until the correct software has been released.
Also there are plenty of baseless rumours flooding on the web about release date just ignore them.. just like how the Iphone 6 will have a holographic keypad; that isn't happening any time soon. Just wait patiently is the best thing I could suggest.