Why February 2014?
As far as I knew the game was far advanced in development (engine, translation, music, design, maps), there was a slight delay with respect to the initial goal, which was scheduled for October / November but left to November / December.
Now the game is in late February, three months late. That's too long for a game over.
After researching a bit I get three main ideas. Two confirmed to me, another guessed.
1) Optimization (confirmed).
The new MS Engine is much better than the first and is better optimized, but it has to run a game with many lighting effects, graphics severely strained. And all that running at acceptable FPS rate, it is not easy, they are having some problems (especially with the XBOX360) but is being solved (although in some cases did you have to download something graphic quality). All this can justify the first delay, but the second no.
In the opposite case is the PC version for obvious reasons of multiple configuration does not have any performance problem and looks incredible. Even had to control the quality of PC to not outrageously higher than consoles and people feel upset ... The PC version of the original modeled (scenarios and characters) might look like any of the next gen game that will in PS4 and XBONE. But they limited it, now the version be able to use very high resolutions to better lighting effects and a towering FPS (and there is a HD texture pack it is not known if they finally included .. probably not at first, with the time ..)
2) Next Gen (confirmed).
One idea was clear from the beginning, wanted to avoid at all costs that the game came out in the 30 days before and 30 after the new generation of consoles. (in fact much game releases that are not next gen are doing this).
The reason is logical. A next gen console is heavy spending and people would have to choose, perhaps delaying (and probably forgetting) the purchase of the game for next months.
Probably would lose all effect of an advertising campaign because all the media attention of the media and players would focus on the Next Gen.
As it was impossible get the game with guarantees in September or Ocubre (for technical reasons in the console version). They decide to delay nearly March.
The Hype of the output of the next gen and Christmas will have passed, and many of the players will have a console at home but not many games that really catches your attention (PSP Vita xD?). And will return to the old system for a while, because the authentic hit next gen games are for late 2014.
This is the main reason for the delay in late February.
And it seems right, even I'm not going to buy the next gen until next summer at the earliest. With GTA5, LOS2, MGS5, GT6, Batman: Arkham Origins, Dragon's Crown, Sacred 3, D3 Expansion and many more ... Next Gen can wait a little...
3) The new Character/s. (guessed)
well, let's see, how can I tell?
Ok, I'll be quick, after several talks I have the feeling there was a change in LOS2 characters, at least for 5 months, I think it changed the story to fit the new characters. I think they just changed the name, design and some dialogues (in the case of Victor) and put another extra character need redesigning some things.
I firmly believe that the first story and character design was Julius Belmont .. and change a few months ago. I REPEAT, IT'S MY IMPRESSION.
The decision to put Victor has nothing to do with point 2, but other changes in the game yes, because now have 4 extra months ..