I've got to be honest. I'm looking forward to 4th edition. In fact, I think I've bought my last D&D supplement until it comes out.
Several months ago, I sat down to write up an extensive house rules document with a few different goals in mind. I wanted to make combat more realistic, make class abilities into feats, and figure out a way to make melee combat more interesting. Was I just bored with D&D? Maybe. But in the end, I found that the changes I was making were so extensive, the end result wouldn't even be D&D anymore.
So at that point, I started looking around for a system that would fit my preferences better, and some of you folks pointed me toward GURPS 4th edition. I got the books and was simple amazed at how much it looked like the house rules I had been building.
Long story short, I've made the switch to GURPS.
I still play D&D, but I doubt I'll ever run another D&D 3.0/3.5 game again. Since my character was killed in our Red Hand of Doom campaign last week I've been building a new one. After using GURPS for a bit, I can't help but feel like creating a character in D&D is like running a race with a broken leg. You can do it, but it's just painful.
So yeah, I'm hoping 4th edition will come out and spark my love of the D&D brand again. But if it doesn't offer more flexibility in character creation, I may be done with it for good.