Earlier this month, Digidesign announced the upcoming release of the next version of Pro Tools: Pro Tools 8. This new Pro Tools has a modified interface, comes with new plug-ins and virtual instruments, and expands upon the upgrades from Pro Tools 7.4.
Whether or not this new Pro Tools works with your specific third party (non-Digidesign) plug-ins remains to be seen. You might have a free upgrade from the developer, or you might have to buy an upgrade (if/when available). In any case, you might want to hold on to the installation program for Pro Tools 7.4, just in case.
Pro Tools 8 will be released in three formats: HD, LE, and M-Powered. If you buy a $150 upgrade/license for Pro Tools 7.4 right now from Digidesign, you'll receive a free upgrade/license for Pro Tools 8.
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