I'm teetering on the brink of falling into iPad land. Should I fall in, or hold out for iPad 2?
It depends what you're planning to use it for most. Though, once you have one you'd probably want another so you wouldn't mind having to wait in line again for the new one when it comes out.
I think we're pretty close to learning some concrete details about iPad2. If I recall correctly there are already two Apple press events scheduled for January and one is almost certain to involve the iPad2.
For me, the only thing that the current iPad is really missing is more RAM. At least, all the rumors mention a RAM increase so anything else they might also thrown in will be a bonus.
