I'm in no particular hurry to purchase 4ed., as I still have so many unused 3.5 ideas. I started in the red box/blue box days and enjoyed AD&D until life got in the way shortly before 2ed. A friend renewed my interest through D20 Star Wars. The streamlined D20 ruleset (certainly compared to the endless charts and tables of the first DMG) and wistful nostalgia brought me back.
Still, when I do get 4ed. I want to use POL to build a setting I've envisioned since my AD&D heyday, mainly based on Eastern Europe and Russia. Petty princes and magnates conspire amid opulent luxury while their serfs live in squalor. Close to their barbarian heritage, these heavily bearded nobles drape themselves in animal skins and furs, encrusted with elaborate jewelry.
The major cities huddle close together, the savage wilderness beyond ruled by monsters and dangerous tribal raiders, the coasts home to Inuit (Alaskan)-style aboriginals.
I see it mostly as a study of human-centric cultural elements, modeled on Polish Hussars, Mongols and Cossacks, the Orthodox Church, etc. With appropriate D&D-isms added, of course.
When I started reading about "Points-Of-Light" and such, it was like a voice said: "Here's the system for the fur-covered princes in the cold forests." I've been watching the updates with this setting in mind, making no judgements at this time. But sometimes either encouraged or annoyed by what I read. Still, these guys have been waiting for a long time, and I think they'll thrive in 4ed.