When I got my TouchPad, the very first thing I did was update it to the current 3.0.2 release (it shipped with version 3.0). Apparently, HP are planning another update in the near future, but they really have come out with some fluff speak about it.
HP can't tell us roughly when the update will come or even the approximate areas that it's going improve, but we are told it "will enhance the platform and add functionality and a growing applications catalogue". Well, HP might as well said "it'll display pink balloons on the screen every other Thursday" - it would have been about as useful a statement to make. Still, maybe they'll do some of the Preware hacks like turning off logging so even a non-technical user can see some performance improvements.