I'm waiting. I bought a 16M iPod in December 2 years ago. At the time, I was not looking at sites like MacRumors to get any info - I just purchased an iPod Touch on whim.
Three months later, the iPod Touch was upgraded with speaker and larger memory which I would have paid for before. I felt a bit burned, but chalked it up to not having knowledge.
I've kept my original Touch since with no regrets. When the new 3G Touch was released with no camera, I was a bit disappointed, but thought I would get one anyway because the voice features I need. I won't wait for the camera (even though I wanted one).
But if I did, and the camera iPod Touch was released in a few months, I would regret my purchase A SECOND TIME. So, I'm waiting and will wait until next year. If the camera is released, great, if not, then I'll get the next upgrade. But if the rumours are true, I am determined not to be burned again.