Yearly updates are not a bad thing, actually all OSes are having upgrades at least once per year (some of them even more often). From many perspectives, it's way better to have small and often upgrades rather than rare big ones. Only windows have unpredicted and big release cycles, and I would not consider it as something to make an example from.
Having said that, with the resources moving towards iOS 7, I would not dare to risk and predict a release estimation.
Do you mean updates or upgrades?
Software update, upgrade--what's the difference?
Key differences
A software update is usually downloadable free of charge; a software upgrade usually is not.
A software upgrade usually increments the first "dot" number of a product (for example Mac OS X v10.6, Mac OS X v10.5); a downloadable software update usually increments second "dot" number (for example, Mac OS X v10.6.8, Mac OS X v10.5.8).