According to MIke Portnoy:

On Friday February 25th 2005, Dream Theater wrapped up recording on their latest album. Mixing will be begin on Monday February 28th and the record will be delivered to the label in Mid-March. A release is expected for sometime around May/June through Atlantic Records.

Dream Theater began writing and recording their latest album last November at the world famous Hit Factory studios in New York City. (everybody from Michael Jackson, John Lennon, Bruce Springsteen, Madonna, Britney Spears, U2, Mariah Carey, REM, etc. etc. have all recorded at the legendary studio)
As has been reported in the media several weeks ago, the famous recording studio is closing down upon the completion of Dream Theater's recording session.

This album will hold the distinction of being the VERY LAST album ever recorded at the Hit Factory in NYC. (the first was Stevie Wonder's "Songs In The Key Of Life") After the Dream Theater sessions ended on Friday night, the lights were turned off and the doors were locked to the world famous studio - ending an era in the music industry....