Considering th 150 is still pretty new (6 months old roughly) I highly doubt a replacement will be released at least for another year or so.

Over at DVX user folks are thinking maybe a camera similar to the DVC-30, which was a smaller sibling to the DVX100, no XLR ports, etc.

Hi Matt,

The HMC40 is not a replacement to the HMC150. It is going to be smaller and about $1000 less, but I don't have any other details on it. Info about the HMC40 will be released tomorrow at NAB.

ahhh...it has a name already! :)

I was at the press conference and can tell you a few things. It's definitely not replacing the HMC150, it's about half the size of the 150. But it looks smokin' hot. Three 1/4" CMOS 1920x1080 sensors, recording to PH-mode AVCHD at 1080/24p, 1080/30p, 1080/60i, 720/24p, 720/30p, and 720/60p. It has some of the niceties from the HMC150, including the waveform monitor! The viewfinder seemed kind of low res, but the LCD is nice and sharp, like the HPX300's. HDMI output, component output, mic in jack, plus optional XLR audio inputs, manual focus/iris/zoom, and ports for remote focus/iris and zoom/start-stop.