I'll be interested in what specs are announced for the new Nexus (and if there is more than one). The specs released for the rumored LG Nexus aren't really much better than the current Nexus (at least, IMHO) and, for the price, the current Nexus might still be the better buy.
Still, not a bad idea to wait and see what is announced and what the pricing is, and how that might effect pricing on the Galaxy Nexus. Of course, if he is buying the current Nexus for $.99, it isn't likely to drop much below that price.
Especially as we don't know if the new Nexus will be available on Verizon or Sprint.