Guy, if you want to see how it looks like in a RAW converter that supports the S2 simply take RAW Developer.
I'd say in general RAW Developper is on par with C1 regarding detail extraction and tonal transitions; a bit smoother regarding contrast and a bit different in color reproduction. I don't see any reason why RAW Developer should be behind C1 with the S2. So in reverse I think even if C1 will support the S2 it won't be significantly better than RAW Developer (workflow and speed of the softwares is another story).
Anyway... in RAW Developer I see basically the same shortcomings in the S2 files as in LR3 Beta. So I would not expect any wonders from C1 here.
Firmware upgrades may improve things. Maybe. Phase (Hasselblad, Leaf...) is obviously quite experienced and sophisticated when it comes to the interaction of sensor data, firmware and software. IMO. But I don't see any expertise of Leica here. So... it may improve, but it is also possible that it will not. So I agree 100% with you that the system has to age. And that it is seriously too early to draw final conclusions... but at the same time too early to invest in this system unless you want to be an unpaid beta tester.