Eagerly awaiting news on this as well, I only decided to give FF XIV a serious try after the EU DC announcement. From what I read at some point, don't remember the source, sorry, it should be at some point after 3.0. I guess we should count ourselves lucky if it's gonna happen this year.
The 500ish ms lag is quite terrible (compared to 20-30ms I'm used to for EU based games/servers) but at least with the 2.5 GCD it's not a total deal breaker.

We can hope they put out a statement with date and details on how it's gonna be handled soon but I wouldn't be surprised if we had to wait for around 3.0 for any more news.