Updates to TG3 are not included. TG2.x updates are, though. The $100 for animation really depends on how much you plan on animating. Right now, the built-in tools are pretty rough, but they will be refined over time.
A couple of other things to note:
- If you already own TG 0.9, you get $100 off
- If you are a student, you get a discount, but you can still use the software for commecial use (email them for a specific price)
Also, Planetside has promised a release in 2007 - they might not quite make it, but I'm confident that it will be darn close.