Let's check the facts:
1. The smartphones' hardware performance is increasing steadily.
2. The requirements for Computer OSes didn't go that high since 2007.
Result: This could mean that we might expect Pocket PCs(The real one) in the near future. So the recent events could be a stop gap for the next generation of smartphones.

However, there is a question here that whether you can hold your breath long enough for that. Or is there going to be any devices that does both the PC and phone task?

If you ask me, I won't buy a nokia with WP7 anyway. It's wiser to look forward for W8 handsets. Though I won't buy a W8 handset either.