Legalization is seemingly taking forever because the government is pandering to those who oppose it. They will eventually legalize but replete with regulations they hope will keep the opposition from complaining too vociferously, while gaining grudging acceptance from legalization advocates. I suspect their attempt to cut the baby in half will leave everyone unhappy. High taxes will ensure that private grow ops continue to flourish. Marijuana is easy and cheap to grow and private unlicensed growers will  have no problem undercutting the price of legal weed. For this reason I don't believe it will prove to be the cash cow everybody is anticipating. Just legalize it. If certain regulations are deemed necessary at a later date implement them then.