I don't agree with Mods only. At the same time, I think too many Updates (3 after Mod3) pushes back the big Mod content too much. Compared to earlier releases, 10 weeks per Mod is VERY aggressive scheduling. Right now, we've gotten 5 Mods in 77 weeks; an average of 1 Mod per 15 weeks (or 1 Mod per 19 weeks not counting Mod1). They're proposing to cut that by 1/3rd to 1/2! And that is impressive.
Launch- Feb 06
Mod1- April 06 (content done in beta, so doesn't really count)
Mod2- July 06 (5 months from Launch)
Mod3- Oct 06 (3 months from Mod2)
Mod4- April 07 (5.5 months from Mod3)
Mod5- Sept 07 (5.5 months from Mod4)
But, [the new 10 week plan] does leave a lot of time between Mods. We're not even 2 weeks after Mod5 and people are clamoring for more. I think there needs to be *something* between Mods. We will always see patches/hotfixes for problems. But, I'd still like to see Updates between big Mods that include: new spells, gameplay balance changes, quest rebalances, maybe a few new quests. Leave out the big content focused Updates like Evil Resurgent and expand them into their own stand alone Mods. But, keep smaller updates that focus on different areas of the game (eg., Mark of the Dragon, Academy Training, Stormreach Under Siege)