So the people in 7-12 month spot, does this mean people waiting for rev 2 or are they just the consumers Apple loves who go out and buy the product the day before the new version comes out?
No they are the people who wait for many of the version 1.0 arrows to be shot into the back of the gadget freaks who have to have it before everyone else for bragging rights. By 7 months at least one "fix" will have come out. Same folks who skip 10.6.0 and 10.6.1 and 10.6.2 waiting for the stable version that reflects some of the defects that the release launch missed.
Similarly the hardware glitches ( premature battery death, cooked graphics processors , etc. ) tends not to show up for the first 6 months.
Even if they do Apple will go into denial mode for several months before have a fix.
The above two are just evidence of experienced tech buyers. ( yellow iMacs , playback on MacPro fix, significant patches for 10.6 , etc. only recent example to illustrate that Apple is not exempt. )
They are also compromised of the folks who save up for something before they buy it. ( instead of floating yet another on a long list of gadgets onto their credit). Likewise may be the right timing on the hardware renewal cycle.
By 7 months device likely will have multiple creditable reviews of people who have actually used it for a non-minuscule amount of time. Likewise also should be significant software available that isn't a crude Touch port. It is the software that will drive this. Hastily ported Touch ports aren't going to be the primary drivers longer term. The majority of developers aren't going to have hardware for a couple of months.
Like the iPhone/Touch it is likely that at the 12 month point there will be multiple generations on the market at the same time. This "tired and true, but cheaper" year n model and the year n+1 model with more "stuff" but the higher price.
If put something off for a couple months and still find that seriously need the device... then probably do. The folks who buy "i gotta have it now" are being driven by impulsing buying.