I'm on contract until next year, and I'm actually quite content. There's nothing out (or coming soon) that really catches my eye. As for the X2, it's (IMHO) a minor upgrade, with some questionable decisions. I can't fathom why Moto removed the physical camera button!
I'll echo what others have said... by this time next year, all the "me too" specs that manufacturers are just chucking into phones now (dual core, 4G, front cameras) will all be standard fare. The hardware and software will be mature for those features, and hopefully we'll start seeing other new, more exciting features than these. I consider all of these bumps to be minor, especially the speed improvements that just aren't necessary at this point. A year from now, sure, some software is going to make my X start to feel slow.
But I already feel like a got my one-year refresh after installing GB. Phone seriously rocks with it... if you're not on a leak yet, you're going to be really happy when the OTA drops. This might be the first time I can ever remember not counting the days til the end of my 2-year contract.