What should I do? With all the rumors I guess I will have to wait and let it expire. What would you do?
The same thing you would do to all your worldly possessions if all the rumors were saying that the world would end in 2012 and it was December 2011. Sure those Mayans may be right, but are you going to make a big gamble on it when every rational person says that they are probably wrong.
Don't make a big bet on a rumor. Odds are you will get burned. Look at the odds. How many rumors do we hear over and over that have no time-line that turn out to be 100% accurate and how many do not? I can tell you the odds are heavily against you here.
Even if we assume that the rumors about Mobile Me going free are true (and we have nothing to base that on), here is no time-line that we can base it on anyway. So even if your bargain to not renew was right, you can be months off with the timing and still be screwed.
Purchase decisions with services like MobileMe should almost never be done based on rumors. Make decisions
after announcements and not based on unsourced vague rumors that you have no guarantee of accuracy. You should renew now and not loose your data. Odds are, the rumors will not meet your renewal period. You might as well expect to hit the powerball jackpot. The odds are not in your favor here.