Here is how your timing belt works:
The timing belt is the medium between your valvetrain (the act of the valves opening and closing via the camshafts) and the location the pistons are in the cylinder sleeves (the act of the crankshaft spinning and moving them up and down) When the crank begins to move, so does the valves. The engine is specifically designed so that as the valves open (which means they are being pushed down into the combustion chamber) they will not come in contact with the tops of the piston. If they do, the power, speed and force behind the pistons moving will bend the tiny little metal valve because it has less mass and ends up losing the war of "hey, you're in my spot!"
So as the valve bends itself, the retainer at the end of the valve is still attached to the top of it and begins to pull it up. Either two things will happen at this point (but more than likely, probably both). First, the bent valve will come up through the valve seal and begin bending and scraping the metal around it as a crooked object tries to force its way through a straight hole. Second, the retainer holding the valve to the spring itself for rebound purposes, will snap off. This could happen on one or many of your valves as the belt skips a tooth or breaks. Unless you have in lower compression pistons (which I doubt) that would make valve and piston contact unlikely in the event of a missed tooth.
With all the parts you now have to buy for the valvetrain, you'll also have to take off the head to send it away. Oh, and if the piston is stock and in which case isn't a particularly meaty piece, it might damage the piston enough to need replaced as well. Skipping a $700 Dealership belt change could end up costing a few thousand in the end to replace everything like new, or at least a thousand to go out and buy a used head with components and get the cylinder repaired.
But in all likelihood, the timing belt was made to be really strong for longer than the manufacturer claims, but doesn't want you to know that because it knows people will forget and not change it and wants to give them some breathing room.
With such an expensive repair, why waste the money on it? If you don't put more than 10,000 more miles on it in that 7-8 months (15,000 may be stretching it) then go for it. It's up to your conscious if you want to lie about it when you're trading/selling your car to the next person if you changed it or not. You don't want to wake up the next day to find all 4 tires slashed and windows broken out of your new ride by the guy that bought the prelude and had the timing belt break on him while rushing his pregnant wife to the hospital to deliver
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