I'm currently running Sonar X2 and wanted to know if X3 was really worth the upgrade at this time .... after 5 updates to the software ... do you think the next version of sonar is just around the corner or not ? would it be in my best interest to upgrade now or wait until the next version is released ?  there are a few features that I like that X2 doesn't have but is it worth the money at this point .... what's your thoughts ???

Sonar X3e is a great product, I definitely recommend you buy it!
 

Usually Cakewalk does not release until near the end of the year, so I don't think a new release is coming that soon.
As for if you should get it, well if you are asking me, then I would say yes, only because that's what I did a few short hours ago!
 
I guess I would calculate if the 99.00 was worth it if say, we were expecting a release NLT December 31st.  That would mean that for about $11 a month spent NOW, I can play with new cool features like Melodyne integration, Addictive Drums and new effects and a whole lot more.  Looking at that cost from an entertainment perspective, that's about the cost of movie ticket here where I live (Southern USA).  Now, I've seen some good movies, and some bad ones as well.  So, I reason the cost -- I could spend $10.00 on a couple of hours on a bad movie, or I can spend at LEAST a couple of hours per month on the latest version of my DAW, making bad music     but having a GOOD time.  To me, the choice is a no-brainer.  For you, depending on your budget and needs, it might be different.
 
 

I ended up reverting to 8.5, which I've used for a bunch of years.  X3 is just too different.  It doesn't work the way I expect.  Stuff is in different places.  I thought it would be a better 8.5 but it's like a whole other program.

That's odd, I found the differences to be logical and not much of a hindrance. I spent about 2 hours just clicking on menus and icons and soon figured out the changes. I found the upgrade from Word 2003 to 2010 more frustrating. The OP is using x2 so won't notice any difference at all.
OP- X3 would seem to be the more stable and improved version but if you are having no issues with X2 then it's just a matter of spending money for a few new features

Go for it!
X3 is a great step forward, features and stability is worth it!

Go for it, X3 is a great program. 

X3 is worth it.  I really like the modified EQ, the tape emulator and the Nomad Factory plugins, not to mention it has been extremely stable.