Hussar
Legend
I think all we have to go on is what we see in our gaming circles, which is a very limited frame of reference. Personally I sense a decline. But I expect to see another surge in popularity down the road. It is very hard to see through the clutter though since there are so many things that can confound this sort of reckoning (the internet for one).
I do think you're right there. The groundwork that WOTC and Paizo are both laying with things like organized play and the Encounters I think will really pay off in about four or five years. It's just going to take some time.