I was wondering if it it too early to use HTML5 for a production site. Should I rather wait 6-12 months until users have updated to compatible html5 browsers? This leads me to,
It is really a bit of a toss-up. Safari and Chrome support a pretty hefty chunk of the proposed HTML5. Firefox would come in after them with a reasonable amount of support. IE8 however, doesn't offer hardly any HTML5 support. There are some JS hacks that enable some elements, but its far from a solid solution. Just be aware of what you're getting into. check out this overview on Wikipedia
However, to get a bit of a hack-y feeling support for HTML5 in IE, you can check out Remy Sharp's HTML5shiv
There are however, a good amount of HTML5 elements you can implement in your projects now that are supported by most browsers, take a look at this video from nettuts "HTML5 Features you Should be Using Right Now"