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my two cents:
you want it now, then get it! Its fun to use.
If it lacks a feature that you depend on, like a forward facing camera, then wait.
We can speculate a lot of what the next version will have feature wise, but only Apple knows for sure. The camera is the only rumor I personally believe.
They probably will have an event around February when they will announce the details. The actual product will come to stores later. So its more like waiting another three months I guess.
I got mine in May when they released it here in Germany. It was almost sold out all over the place and if the 2nd generation is really a revolution then you can expect the same again.
As for getting the current model cheap when there is a new one out. Apple is already doing that. They have a section in their store that sells refurbished iPads from time to time. Here in Germany the savings have been 50 Euros so it was not so dramatic.
Not sure if this helps you in making your decision. What helped me was going to a store in May and playing around with it a little.
I left the store with a bag ........
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