Now my overall question is, is there suppose to be a new nexus soon or should I just get this(350 is a steal) and be satisfied with the updates to come.
Well we don't really know anything yet. There aren't even any decent rumors out for people to speculate on. Google has traditionally launched a new device with the latest platform release of Android, about once a year. The issue this year is Google went out of cycle and announced 4.1 Jelly Bean "early" with the Nexus 7, so we're not really sure what the deal is as far as the phone situation goes.
That being said, the Galaxy Nexus is still a great phone, and at $350
brand new and
unlocked, it's kinda hard to recommend against it.
Get it now. Even if a new Nexus comes out there is no guarantee Google will offer it.
Given Google's dedication to selling the Galaxy Nexus on the Play Store for the last several months (all while dealing with lots of crap trying to sell it via carriers), and launching both the Nexus 7 and Nexus Q on the Play Store, I find it extremely hard to believe that the next Nexus device wouldn't be offered on the Play Store at launch.