I agree with both you guys--it would be nice if they just gave us an ultimate version and stop with the baby-step upgrades. It would solve what seems to be an issue with a growing number of people. I got the impression in one of Hasbro's Q&A sessions that they purposefully hold back on some core characters so as to offer something "new" with each release. Sounds an awful lot like sandbagging.
This "sandbagging" strategy might make sense, even if annoying to most, if your biggest consumer "demographic" was the collector. But Hasbro has told us that, "No, kids make up the bulk of their consumer base." Sure, I think kids want the best version of a character too; but they don't chase these variations like some collectors do. Between a totally new character and an upgrade to a character a kid already owns, most kids are going to go with a totally new one.
I also can't help but remember how the vintage Darth Vader from the 70s and 80s was pretty much the same throughout the entire run (I'm not counting the double telescoping saber) and I'd say that line thrived for a good 7-8 years.
What I'm getting at is Hasbro looks to be contradicting themselves on how they approach these core characters and who they say their primary consumers are. The toy re-launch happened 15 years ago and the line survived through longer stretches without some sort of movie or other media event. Kids don't keep the line alive in these dead periods--1986 proved that. (I say that assuming there wasn't nearly as big as a collecting community back then as there is now.) So collectors must be buying more today than Hasbro thinks or wants to admit. If so, it's time to stop the small incremental steps and give the ultimate. It's kind of like flirting with a woman. Sure it's fun in the beginning, but if it never actually leads anywhere you just get bored, disinterested or ticked off.