It seems as though some people think the update will actually add many hours of gameplay. It probably will but only if you're gonna play multiplayer. Considering what we have in v1.0, there can only be so much new content. I wouldn't expect more than 20 new items, 3 new areas, and 3 new monsters.
I'm not saying the update is gonna suck. I don't want to see a flood of complaints from those who were already disappointed about how short the game is when the update is released.