If you are referring to the next-generation Prius powered by a new Lithium-ion battery coming out in 2010, I would wait until after 2012.
A new redesign is bound to have some bugs that need to be ironed out, so wait a couple years and buy late in the generation.
The current 2008 Prius is a 4th-year refinement of the current generation introduced in 2004. It is the most refined of the current generation and definitely worth buying. It will save you fuel in the city or on the highway-- I can't think of a normal gasoline-powered (not diesel) MIDSIZED car that can get 45mpg on the highway like the Prius does. (The current Prius is a midsized car with 96 cubic feet of interior space, not a compact.)
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