I'm pretty sure there won't be any more OS updates for the Touchpad. Anything that needs to be fixed will have to be done by the Homebrew community. Catalog apps will continue to get updates, but only if the developer is still working on the app.
As for parts, there will be always someone whose screen shatters and they decide to part up their Touchpad rather than repair, so don't worry about that too much. The times it didn't power on sound like the battery discharged to the point that it could no longer power the charging circuitry. There's a whole thread devoted to fixes for this problem
If you decide to install Android, there's a guide for that, but beware that for some people Android permanently broke the accelerometer or the camera, so proceed with caution, since HP won't be willing to repair those things. Also, some have reported that they still have to boot into webOS to charge the battery.
Sorry if things aren't as sunny as you like... there are however many new developments here in the community, such as the work on LunaCE, an upgraded OS graphical interface layer. It's really good, and there's also the WiFi file sharing utility, and a whole bunch of other stuff that can be found on Preware