I don't really know about the industry stuff. I haven't researched publishers, publication costs, printing costs, distribution deals, etc. at all - and wouldn't presume to know what's best - at least not without doing the research first.
As far as I'm concerned, a second edition should not be a huge departure from the 1st. It should mostly be about streamlining certain powers or rules, maybe adding a few options here and there (in terms of boosts, complications, advantages, disadvantages, powers, aptitudes, and the like), providing some guidelines for things like material strength and super vehicles, and otherwise building on whats already there. I think care should be taken to not get carried away. Supers! should remain very much the rules-lite game that it currently is - just with a few new bells and whistles to patch a couple of holes and attract some new attention. To be honest, the work that Dustland, honestiago, and a few others have contributed already goes far towards addressing anything that I find lacking in the current version of the rules, and I hope that my work on the bestiary, the Multiform power, and benchmarks contributes a bit in this regard as well. A second edition, as far as I'm concerned, could simply tweak and consolidate those aspects of this fan-generated material that you like, adding them to a new version of the rulesbook.
Quite honestly, I would rather see you remain at the helm. This is your baby, and I trust your instincts with it. I'd love to see you use us as sounding boards or idea generators. I'd like to see you ecnourage vigorous debate or discussion on our part regarding how things should work or what needs to be included, but ultimately I'd feel most comfortable with you making the final decisions on what should be an official part of the rules, what should be presented as an optional rule, or what should be discarded overall.
I also tend to believe that a Think Tank approach to developing a second edition would be exciting, would draw on some great talent and love for the system, and would generate a good product. I would love to be part of that sort of think tank, whether you are at the helm, or whether you pass it on to somebody else.
Well, those are my initial thoughts. I'll probably write more later.