I at least don't want a Pandora 2 too soon. Something this great has to be future-proof; I've upgraded open handhelds (GP2X > Wiz > Pandora) three times in as many years, and I'll be damned if I have to do it again.
I don't really follow this line of logic. A manufacturer doesn't force you to buy a new product by releasing new product. Nor do they somehow stop the progress of technology by choosing to stand still.
This is a GNU/Linux based OS being used. The drivers should either be rolled into the kernel, plugged in with kernel mods, or be the rare user space driver. This in turn yields one of the fundamental strengths of Linux, where when combined with FOSS it is very cross hardware tolerant. So unless you think EvilDragon and the rest involved with the custom distribution would instantly lock you out if there was newer better hardware by maniacally driving the desktop manager RAM usage up I really don't quite follow this.
It seems to me the bigger issue along those lines is the simple reality that this is a very integrated device, and cutting die steel for cases, lining up supply contracts, and otherwise is not free. Honestly I'm very impressed at how a small international team managed to pull together and do a project like this well enough the big issues are with the brick and mortar fabber, who seem to be making a good faith effort to get things sorted out.
Personally I'm in Batch 2, and intend to wait with a potential follow on order in 2012 if everything goes nicely. I've taken a lot of time comparing it to various other devices along these lines, and as is it's very solid.
For eBook/pdf reading you'd need a 7.65" tablet, presuming the normal portrait orientation, to exceed the width of the Pandora in its normal orientation. I'd call that rather good, particularly if things scroll without much fuss. 7" is basically the limit of pocketability for tablets, and I can't see I see that much of a loss until the dual screens hit stride. Movies were acceptable on my old Palm and this is better setup for it.
For general computing the rough equivalent of a high end system before the turn of the century isn't bad by any means and more then adequate for the SQLite rendition of a Handy Shopper like program I intend to setup. It can handle a wide variety of other nice pocket computer functions, which makes the price I paid for it cheap versus the specialized options while being able to do much they cannot. Obviously more RAM and processor power is always nice, but if the concern is emulation oomph I'm pretty sure you'll have to wait a while anyway before designing something meant to have Dolphin or Yababuse ported to it. Given Id kind of stalled after Quake 4 and the idTech engine for Doom 3 will not be released until after Rage, there's not exactly a slew of demanding FPS engines really available that the Pandora can't handle.