Still hoping 4.2x will come to my device. Still contemplating replacing it either with Ubuntu, or a CyanogenMod version, if possible. I haven't really committed enough to either option to learn how practical/possible this would be.
However, if I get infected due to a 4.1.1 security hole, I;m guessing I'll probably need to wipe the device. I therefore wouldn't have too much to loose in this situation, anyway.