The FF1 warranty guarantees that they will repair or replace the device for any issues covered by the warranty. I don't know of a manufacturer who would (except under maybe extraordinary circumstances) just give you your money back. Why should they do that? If they are willing to keep sending you new FF1s then they have discharged their duty to you per the warranty agreement. (If it makes you feel better, I've had more failed FFs than I can count. They've always responded fast and replaced them. I know there are reliability issues with the 1, but if they're cool with continuing to send me new units, then I have no complaints.)
As for an upgrade program, I seriously doubt they'd do that. Again....why? As long as they are able to replace your dead FF1s, I don't see the upside for them, or the necessity. Can I get a new car model if my car keeps dying under warranty, and they keep fixing it? Additionally the 2 is 60 bucks more than the 1, a 22% price increase. They obviously do not consider a swap of the 2 for the 1 an apples-to-apples replacement. (Having used both, neither do I.)
You are correct, as of yesterday there is still no official release date. We may know more in a couple weeks.