Consider their other action products. Edge 500 to Edge 510 had a 4 year gap. I'm not saying it will be that long, but the Virb as is just came out in August, so I wouldn't expect new hardware remotely soon.
I agree with that. I think, they will test out a lot of things by releasing new fw updates (I hope so). And another point, they wait an see, how the action cam croud is accepting the virb/virb-elite.