Hi!
I bought a first-gen unit at a severe discount when the second generation ones came out. It doesn't really matter to me if I'm "one step behind".
Even as nice of a piece of equipment as it is, there's nothing about it that screams "killer app". I've only ever used it very occasionally to browse the web at home when a computer wasn't convenient or to play video. I don't care much that it will never see iOS 4.
I found a well received and free audio frequency generation app, but the iTMS is somehow dorked up at the moment and convinced that my credit card will be expiring soon (in 2013?). Not quite.
William