If I told you, I'd have to kill you...
OK, let's try another cliche. Anyone who tells you, does not know. Anyone, who knows cannot tell you. I like this one better.
Adobe is always closed with regards to upcoming versions. This same question has been asked repeatedly on the PrPro CS4 forum. Much speculation there is that there will not be a new version, until after Win7 is finally released. Again, with speculation, many wonder if it will be only 64-bit only.
Now, where does that leave PrE users? Well, there is clamor to get it to be true 64-bit. Also, many want it to be designed for Win7, even though it has not been released yet.
Next, let's consider the different markets between the two programs. PrE is consumer. Think Holiday purchases as a big point. PrPro is more pro-oriented. Think events like NAB.
For the former, the buying season for the retailers has long passed. For the latter, there is still time, but Win7 and full 64-bit is still not on the table.
Based on total speculation, I'd say that PrE8 will be out about July of 2010, and PrPro CS5 will come out before, but not until February 2010. Obviously, I do not know, but looking at buying patterns, might not be that far from truth.
PS - Adobe has been very good in the past at offering free, or cheap, upgrades, should one purchase just before a major upgrade.
Thank you wine snob for your reply, I appreciate that. I believe your right the more I think about your answers. I'm going to move forward and pickup PE7 and I might as well get Ulead 6 + with the HD power pack so I can burn Hi-Def projects to a standard DVD.