In the video, Richard Branson speaks of commercial flights in 18-24 months, an estimate he has given previously (including 14 months ago at the Oshkosh airshow).
Aviation Week has an outline of Scaled Composites’ test program for SpaceShipTwo, which includes powered flights early next year:
The flight marks the start of the third phase in a seven-phase test program that is expected to culminate with the start of space tourism and science flights in 2012…Unpowered glide testing, which follows four captive-carriage flights to simulate SS2 approaches, will be used to refine the vehicle’s aerodynamics and low-speed handling qualities. For the Oct. 10 flight, Scaled Composites had a cover over the nozzle of the Sierra Nevada RM2 hybrid rocket, and tufts below the duct to visualize the local flow field around the composite-skin nozzle section.