Hey cwall99,
You're absolutely right. HDMI version 1.4 is coming very soon, we might even see the first products by the end of this year!
Dolby Pro Logic IIz is already in Onkyo and Denon receivers.
Audyssey DSX (Dynamic Surround Expansion) is coming in the new Denon AVR-4310ci this June. It uses an 11.2-speaker configuration.

And it sounds very promising too, according to Audyssey.
Video with 4K resolution is also coming eventually.
HDMI version 1.5 will also be in the pipeline at some point.
They are working right now very hard on 3D.
And about 0.3mm thick TVs that you can bend?

And flat speakers technology too.
And Holographic technology is making further steps.
So, that's all good news in a sense, but it's also bad news too.

I guess it all depends on each individual's point of view, and financial resources.


Cheers,
Bob