While I'm not crazy in love with HAND as a title, I'm not sur I like Drive On either at least HAND is in theme with the record. I think Jon just hates naming things, he's never been great at titles and album packaging, the magic has always been what's inside, the music.
As for the letter, I think it's cool that he explained at all why he held the record, and I for one am glad if it turns out that these new songs and changed lyrics make it a better record. I'm in that club that thinks that taking however long it takes and making it as good as you can is better than meeting a pre-stated deadline just so you don't get called a liar. he's getting smart in his old age he just doesn't say anything until it's a done deal.