REWARDS:
An updated SoC would provide more capability in the form of raw processing power, RAM, and possibly new features.
I'm pretty sure OMAP4 is not what EvilDragon was alluding to instead of a revised OMAP 3530 or potentially the xM's
AM/DM3730. Incidentally the OMAP DM3730 was actually was brought up in 2008 and shouted down under concerns of delays and otherwise after initial design finalization.
The AM/DM3730 is
intended by TI as an upgrade of the
3530 line, and benefits from having a process advantage of 45nm over 65nm. This according to the TI charts results in twice the GPU power, native throttling at 1GHz, and should tend to run more efficiently.
With Batch 2 only roughly half sold we need to kick in the fundamental principle that a product people do not want is waste. A lot of people I've shown it to recently worry over the specs, and even the Archos types with a 3730 worry over being limited to 256MB of RAM. If viable a small upgrade of Batch 2 could make the overall product more attractive as a result, but at the same time raise the specter of involving further funds multiplied across 4000 units, particularly if the SoCs are already purchased and could not be resold for full price.
It should be noted that while nothing expect the NGP in terms of dedicated handhelds will compete with it in the forseeable future, but one does need to be mindful of the Xperia Play which already exceeds the Pandora's specs thanks to a newer process, etc.
RISKS:
For the most part the exact issues will be unknown and varied, from OS issues, driver problems, and so on.
The 3730, which is the farthest I see any legitimate speculation on, is designed by manufacturer for ease of switchover and literally mainly represents the benefit of a process shrink. There is no serious discussion of any major design beyond this which the mainboard has been revised to accommodate, and will be further revised anyway due to CircuitCo wanting board revisions to get failure rates down.
Hence there should be no changeover in tooling, or much of anything else as it's a socket compatible part with a already revised mainboard ready to accept it, and a fab company that already handles those parts for BeagleBoard. Further it will have to go through what teething problems may exist with any further revision anyway thanks to revisions intended to get board failure rate down.
Ergo you've demonstrated no increased risk, but failed to recognize the risk of not doing a revision due to a large portion of Batch 2 not being spoken for and hence has no guarantee it will sell.
Conclusion:
Personally I'm fine with it being left alone, but if it can be reasonably done I see no reason it should not be. The more attractive the now excess inventory is in terms of specs the easier it will sell. The less attractive it is along those lines, particularly if the 500USD pricetag is to remain, the harder it will be to sell.
OPL does not have Apple's marketing might, and 500USD is well into the realm where people normally will be quite cautious about committing. Do not ignore the psychology around buying involved here.
I also don't really see there being a major divide. The current Pandora design has led to people OCing as a matter of course with some emulation, with the potential to exceed the 3730's normal frequency. Hence there's only a divide in processing power if 3730 equipped units are considered OCed themselves as a matter of course. RAM is used for buffering and otherwise holding things in memory so shouldn't be a major dividing factor, although many Batch 1 people seem to comment about being anxious about being limited to 256MB and hence should be tend to be open to the potential of a near term upgrade to lay such anxieties to rest.
Perception management however is important if we're talking something in this price range, and if revisions aren't made it's probably advisable the first thing people see when they open this site isn't the spec sheet anymore. Instead clear demonstrations of what it does and offers along the lines of Evil Dragon's [once] Daily Videos would seem more appropriate. Particularly as there are noted issues with people simply not getting what it's about and then turning to whatever vaguely similar device is at hand and familiar and holding it up as better.