@restore:
If you had take choice between AmigaOS 3.x and MorphOS 1.x, would you choose AmigaOS? If you bought Peg in late 2002 you had a chance to run "AmigaOS++" for almost 1.5 years now. I've been using MorphOS 2 years now - considerable advantage if you run AmigaOS software.
Edit
OS4 looks nice too but I can't find any reason to wait... Matter of personal taste maybe.