Waiting for a successor doesn't make any sense, as it could very well be more than two years before a successor is released.
Waiting to buy a 7D for budgetary reasons does make sense. As time goes by there will be more used ones available, which should make it possible to buy one for under $1200 sometime soon. And of course, the longer they're out there the more the price of a new one will fall. If you don't need to have it NOW, then waiting another 6 or 8 months may very well save you a few hundred bucks.
Personally, I'm waiting. I was ready to buy a 7D, but when I realized I could buy a 50D for $700, I couldn't really justify the additional $1000 that the 7D would have cost me.
"Your" and "you're" are different words with completely different meanings - please use the correct one.
"They're", "their", and "there" are different words with completely different meanings - please use the correct one.
"Fare" and "fair" are different words with completely different meanings - please use the correct one. The proper expression is "moot point", NOT "mute point".