Canon Rumors has the update, and it seems it will take new hardware to make the Autofocus better on the EOS M.
I would love an EOS M that really works well and has video capabilities as a second camera to go with my 60D, but be a little easier and more portable, but I don’t want a camera that doesn’t work right, so hopefully the sequel will be better. And honestly it should come with the lens adapter to use normal canon glass as that is the best feature and it should not cost $200 more for that feature.