I would diversify into other altcoins
Namecoin is interesting, but many altcoins don't bring anything new... I still don't understand why people should use/own clones of btc (with little or no features that make them special). Such "clones" temporarily rise in value only because some speculators are rather dumb, IMHO
I would also say to hold some BTC in cold storage for the long term.
This would be wise indeed, as long as these coins are in safe place.