I'm considering taking the plunge on APM but before I spend the money are there any hardware changes in the pipeline about to be implemented?
I do NOT want to buy and then find out two weeks later that what I bought is obselete because the next version is out!
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As discussed, the APM processor will change to the Atmega2560 in mid-April. This makes no difference to code or performance; it's just done to sync up with the Arduino roadmap. We'll continue to sell the Atmega1280 version, too, since a lot of code, such as the ArduPirates firmware, is not compatible with the 2560. So nothing will be obsoleted.
Other hardware, such as the IMU, will be rev'ed every six months or so, just like most other electronics.