When is it coming for consoles?

Probably about a month.

Considering it costs 40k just to release a patch on xbl & psn, it'll probably arrive when its done being tested on pc.

Depends on when the beta testing is done. Some of us on pc started beta testing 2 days ago when it was released so it really depends on how many bug fixes need to be done to make the patch stable. I believe it was about a week after the official release of the last full patch on pc that it was released for the consoles. I would think the beta testing shouldn't be too long this time since so far I have only seen a couple of problems with it. If you like the kill cams you will love the new ones. Very sweet. So far the only bugs I have seen in my game are some flickering of the new grass shadows (very annoying) and some slight animation bugs in a couple of the kill cams. No backwards flying dragons or broken magic resistances this time. If I had to take a wild guess I would say in about a week and a half to two weeks due to Beth having to go through Sony and Microsoft for the console releases. Don't hold me to that, just an estimate based on the timing of the last patch release. Hopefully sooner.

I believe the last couple out for consoles were over two weeks after beta on PC... if that helps..