If you are using CentOS, and you are bitching about the delays, and you really need the updates maybe you should consider using RHEL, and pay for the support.
Anything too critical shouldnt be run on CentOS, even if the CentOS project was perfect, by definition of what they are (they depend on RedHat releasing the code), they are bound to be late for critical patches.
So if you have little money for a server, your information is not that sensitive, you dont need the latest software you can use CentOS, for example a FileServer for a small office. If you are running 10000 EPR on CentOS you are an idiot, if you are paying a that much for software, pay a little bit more for O.S. support. Otherwise it is like buying an expensive car and use cheap oil.
I have nothing against CentOS, I think the project is great.
CentOS, RHEL, and Fedora are different type of tools for different types of work.
CentOS for when you have no money, or for testing something to run in a similar environment.
RHEL when you need critical support.
Fedora, just for fun and testing, the cycle of life of fedora is really short. I think is perfect for Universities, where they format the servers at the end of each semester. Never ever use it for critical stuff.