I usually try to avoid "first gen" Apple products. There usually seems to be a big jump in quality with the next iteration. Did that factor in your decision? do you think it is worth the wait for their 2nd try?
Anyhow, I expect that ARM9 will be the hotness and this first generation will lose support a little more quickly and next years models. I guess it depends on ARM9 though.
It's impossible to say if the next gen will be a giant leap where you'll feel bad for "wasting" money on the previous gen, or if it'll be just a small upgrade.