As an openSUSE user, I'd rather see them drop release schedules, but neither go into full rolling-release mode nor release once a year. Rather, adopt the new AMD driver release model - release when it makes sense. If there are major things to include in the release, then start working on it, and once it's stable enough, release it, without having any deadlines.
I don't think that going rolling-release is a good idea, in part due to what Vax456 said, in part due to the fact that there *already* is Tumbleweed, and in part that releases are a good motivation for users to upgrade. With rolling releases, you get things like kernel upgrades, KDE upgrades etc., but I don't believe too many people install all the upgrades on a regular basis. Some of the programs could stay at an old version for years without anyone caring to update to the latest one. Plus, reinstalling is a great way to clean the installation. There are always packages that you installed to test something or other, and then forgot about their existence, and yet they take up disk space. And what if you want to switch from EXT4 to Btrfs, but don't know when it would be a good time to do so? A new release is a natural point for major upgrades like that.