Here is some info straight from Cleveland Golf. We are hearing 11/15 on the release.
If they are even close to as good as the CG14s they will have a winner on their hands. My gut feeling is that most will like spin even more. I have been testing the CG7 BP irons and the spin is crazy and they have the same grooves.
They are 100% legal for all of us amateurs. They will not be used on the Professional Tours though. Here is a neat thread that Cleveland sent to us in regards to making the groove rule easy to understand.