We've only been waiting .... for what seems an eternity. I've been spying on Kenson's musing at the new Atomic Think Tank site and he was definitely shifting around how certain powers worked - if not how
most of them work. The system needs a nice overhaul and I'm hoping

he sifts all the leftovers of D&D (e.g. levels and saves) out with 4e. After 15 years, the M&M community is more than ready for some New Shiny™.
The game's brilliant designer, Steve Kenson, and Line Developer Alex Thomas were on the Green Ronin Publishing Youtube channel spilling the beans today: