To discuss FW, one has to realize that is has 2 user groups,
racers and req. users. Judging by Miami scene, only 10-15% are racers.
Racers do update boards every cicle or so; req. users, some will never buy a new board, but 25% do.
For me, my current board is so good, I just don't see a reason to buy a new one now, so unless there are some improvements or mine gets damaged, I'm not in a hurry. It might be like that with many, SB160 and 161 are still winning races, etc...
On new light wind offerings:
Even with latest in light wind planning toys like 147, most that do req. formula will not switch to it because,
all you going to be doing is going on the reach BAF, and that gets boring after a while (we have this huge
bay to explore and if you have something other than FW, you'll be stuck in one corner,
while every one else is criss-crossing the bay). Actually I see it purchased by people that 'hate' idea of formula but want to plane early, I know few people like that.
Racing: there're actually a lot of small, local races around the world and it looks like it growing,
just look FW ranking on formulawindsurfing.org and that list is bigger this year and doesn't include some races. Issue with big events, is economy, flight baggage restrictions, lack of industry and PWA support,
it's just too expensive to travel, we use to get big crowd from San Frans and East Coast for our winter races and don't see them anymore, but they still do race locally.
For req. users: In right locations, usually, light winds, not too shallow, supportive windsurfing community, numbers are growing, I know in Miami they are.