This time period (this holiday season), we have witnessed nothing but the incremental refresh from OEM. iPhone with their 6s and 6s+ , HTC didn’t even bother with the M series (they released A9, which is … meh). Only Samsung did the upgrade for their Note series. It would be a waste to release a killer flagship now and then get outshone soon later on by a bigger updates for the iPhone and HTC + Samsung, considering how well the 6s and 6s+ is still selling.
I feel like Microsoft is trying to walk the line of one year of Nexus-Alike which focus more on the raw capability (removable battery, SD card, interchangeable back) and one year of premium flagship that sacrifice a few things to offer a better design. Which could make total sense really. Some of us like to be able to pop the battery off and replace it on the fly, some others just want a phone that catches their eyes.
Considered all of that, i am pretty sure i would hold onto my 930 for another year. I am excited to see what the Surface division could influence the phone team on their design. A phone with Magnesium Alloy casing would be incredible.