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I waited months for v2 to come out before buying, and at that time there was very solid information that v2 was on the way. So unless iRex as learned its lesson about pre-announcing stuff, there won't be anything for at least 6 months.
I agree that the next obvious step is a larger screen, and the only question I have is whether iRex will continue with the existing screen size as well (perhaps with an upgrade to the new Vizplex E-Ink). However, all indications are that devices with the larger E-Ink screens won't be available until the second half of 2008.
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