About the only major developments in the last few years have been increasing areal density and SATA. Lately even areal density hasn't gone up by much. Seek times, power consumption, and spindle speeds have remained more or less the same. Any real speed improvements are a result of increasing data localization due to higher data density.
I seriously don't expect anything that exciting on the data storage front until MRAM or something similar becomes cheap enough and dense enough to use for mass storage. Until then, maybe all we'll see are 200 GB platters and lower noise floors. Sure, these are impressive technical accomplishments in themselves, but they're more evolutionary than revolutionary.