If the update is going to be as big as it seems, isn't it likely that you'll need to start a new map to take advantage of all of the new features (ex: Biomes).
Therefore, hoarding torches doesn't seem like a super-impressive strategy, unless you aren't interested in all the new features and would rather just get a couple that might be updated on your current map. This also assumes they will be converted into lanterns, which hasn't been confirmed, to my knowledge.
I could be wrong, of course. I just haven't seen anyone else point this out yet.