@spivonious: the Update 3 is already in the plan.

https://blogs.msdn.com/b/bharry/archive/2013/04/04/vs-tfs-2012-2-update-2-released-today.aspx

We've already begun working on Update 3.  I'd like to set your expectations a bit on it now.  Update 1 & 2 were both fairly substantial updates with a fair number of new features.  My expectation is that Update 3 will be VERY modest.  In all likelihood, we will primarily focus on bug fixes, upgrade issues and small refinements to the experience.  At this point we are pretty consumed in working on our next major update to TFS and, as such, can't manage to do 2 separate & significant things at the same time.

actually, Update 3 CTP is already released

https://www.microsoft.com/en-us/download/details.aspx?id=38426