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A difficult choice.
It depends on whether you already have something to read on or not. If you do and you are keen on kindle, I would advise to wait for next generation.
However, if you don't have anything, then just as HarryT said, it is not worth to wait so long without a reading device, let alone we don't know there will be v2 coming autumn. It might be September 2008, it might be November 2008 or March 2009? You never know. And all the time you might enjoy a superb ebook reader and maybe you are going to like it so much that you will not want to upgrade when next generation comes out.
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