The only slump for me is coming from 'senior year of college'-itis. So while my grades may suffer, I'm still working just as hard on putting out good products. Really, we at E.N. Publishing have a slight bottleneck because we have four or five writers, and only two people doing layout.
I think people are just nervous that there ought to be a slump, and the nervousness might actually cause a slump when people think they should save money. Really, everyone ought to go out and spend at least $50 a month on things they enjoy, be that movies, gaming, or just exorbitantly-priced meals at Italian restaurants.
The great thing about the industry now is that most of the big producers are high-level . . . or rather, they're experienced, and so they know better what people want. Sure, there's still some hit and miss, but there's a large crop of very talented writers and publishers putting out great books. There are fewer 'Book of *classname*' things, because those are too obvious and have been done already, but now we get to enjoy exotic things. Writers have gotten comfortable that they know what they're doing, and now they're tackling pet projects. And the best thing is, we'll buy them.
I mean, if Monte Cook had put out AU at the very start of Malhavoc, he would've probably gotten lukewarm responses. But he proved more than clearly with his earlier and (I don't mean this as criticism, but) more predictable books of new spells and feats that he was a top writer, so people trust him now, and adore his work.
We have various print publishers helping out pdf companies by porting more pdfs to print. Sure, before a few top sellers got converted to print versions (such as Tournaments, Fairs, & Taverns, Monte's books, and Vigilance), but now some of the more niche products are being ported over. People know what they're doing, and are able to deal with books that are less surefire hits. This means we'll have less glut of stock products, and more things that are innovative and unique.
So yeah, people are a little nervous to buy, and I'm sure publishers are a little nervous to risk if people are coming across as nervous, but I'm confident we'll see good times ahead.