It may be on the horizon, and it may not. Samsung hasn't been talking about any new 7" tabs for the near future. I'm in the same boat, as I'm trying to decide if I should go for the Nexus 7, or wait for something just a tad better. The only thing I don't like about the N7 is the lack of expandable memory.
My original GTab is still going strong, but it's running on specs that were good 2 years ago. Decisions, decisions.
i swear these machines are trying to kill me.