So Winter NAMM has come and gone. Here's my Top 5 from what I've seen so far.

Vox Valve Reactor AC series - Vox released these in Japan earier this year and I've been excited since I read the initial info on their Japanese corporate page. These cobmine a (presumably) solid state preamp with their valve reactor circuit (as featured in their valvtronix amps).
Peavey Revalver MK 3.5 - I was extremely impressed with Revalver MKIII and this update brings a bunch of new models and bug fixes. Peavey also announced a partnership with MUSE research to provide a smaller version of there Reactor bundled with a lite version of Revalver.
Flux Density Modulation Speaker - Eminence is releasing an innovative way to attenuate signals by manipulating the efficiency of the speaker promising your cranked amp tone at any volume.
Bugera BC-30 - I was very impressed with their V22 and the BC-30 appears to take that concept to the next level looking very much like a Matchless DC-30 clone.
Visual Sound Garage Tone Overdrive - This new line of affordable effects from Visual sound features a revised version of the much loved Reverend Drive Train with a street price under $50 USD!
Stop by the forum to see the complete list of gear I thought drool worthy of a Frugal Guitarist!