I saw on Adobe's site that they recently the next version of their Production Studio will be released mid-2007, for both PC & Mac.

I was wondering, since it is the next version... this means updates to all the software I assume?

Should we expect an updated version of Premiere, After Effects, etc? Is there any news regarding whether this may be PP 2.5 or 3.0, or any information on this at all?

Speculation from past history? (I'm not even sure how many years it usually is before a half or full version step for Adobe?)

Adobe will sometimes update a particular product, like Photoshop CS to CS2, and then make an X.5 change to their suites. But the teaser info, including CS3 being released as a beta for now and Audition being replaced in the Production Suite, reads to me as major suite upgrade and it would be about consistent with the timeline of past major upgrades. So my guess is that summer will see a Vista and Mac Adobe Production Suite 3.0, or whatever they choose to call it.

I am thinking that the whole CS3 name might spread to the Production Studio as well. But this summer should be interesting in any case.

Well, I hope they will at least include XDCAM support...