I obviously can't speak for Russ, and I think he has different plans, but I'm mostly just interested in finishing WotBS. I would like it to be updated to 4e so more people have a chance to play it, and heck, if we can drum up an extra $5000 worth of sales in the next couple of months I would love to have WotBS be available as a 4th edition campaign saga. That's unlikely without a massive amount of enthusiasm from the boards, though.
This is just a total hypothetical, and I think it's in the realm of fantasy, but would you be willing to buy a subscription to a 4e version of WotBS now (akin to people donating money to Wolfgang Baur for a 4e Open Design project)? Do you think people would be interested in a 4e adventure path enough that they'd buy the 3e version now if we promised to release a revision?
Mind you, if we went by the current rate for a subscription - $50 - we'd need to sell 100 more subscriptions (more actually, since the vendor gets a cut) just to cover the cost of the license, not to mention paying for the conversion and relayout and such. It might not sound like a lot, but it's not uncommon knowledge that 4e has really kicked sales of 3e products in the groin.
Still, maybe there's a lot more enthusiasm than I was aware of.