I am not so sure you will see a Gen 2 come out so fast. The company that fielded this technology created the first hand held device; it can go to 1000 yards, but weighs 16 lbs and costs $90,000 - and it was first built 10 years ago.
Look at laser rangefinders: the original Leica Geovid came out in 1993 (I was the first person in the US to buy one). Bushnell came out with LRs but really, it was a very long time before anything could touch the original Geovid, and even longer before its maximum range was doubled.
As for the 500 yard limit, I would agree wind to 500 is generally not a problem; at that range, trying to hit a ten inch pie plate is not difficult; your group is small - hopefully 1/2 MOA - leaving you with 2.5 inches of wind error. At longer ranges, the group is larger, shrinking the allowable wind error, but compounded by the fact an error of 1 mph has a bigger impact at 1000 than it does at 500. But knowing the wind out to 500, and then using that to extrapolate to 1000 and beyond, is going to be huge.
I am going to buy one.