The last ipod nano?
It is interesting that

seem unlikely to update their iPod nanos this year just refresh the colour line.
The company have had other priorities but what is the future of the iPod - the classic has dwindled in recent years though it remains available. Could this be the same fate for the nano? With all the company's focus on the iphone and ipod touch this leaves the nano as a niche product.
Next year I expect we'll see some type of wearable device whether its the iWatch which you wear on your wrist or some other wearable you clip on or carry with yourself.
If

does decide to transform the nano to a wearable device then it would likely function exactly as the nano does now but add in a number of new features. It would re-design the entire product. I imagine it would stay at the sweet spot of 16GB but it might use a fuller version of iOS.
i'd love a wearable device which also acted as an iPod.