Keep in mind that the 8642HD is a 'new' box; most of us still have the 8300 series...
I don't think they will invest, in the immediate future, in improving their PVR's; adding future channels is probably their main priority TV wise, but I agree that most of their efforts are in the wireless arena - they want to offer a pay as you go service.
As for competition, I am not sure there is really any here in Québec City; just a Pierre Karl monopoly! Hopefully Fibe will bring real competition back.
There is another thread here where you can follow Fibe developments in various Canadian cities.