GoldenTerrabyte
Empress of Light
I say that now with the iPhone 6, it is possible. And, I say they'll be halfway done by the time 1.3 comes out! 1.2 adds a whole lot of content, but unlike Hardmode, it doesn't really require THAT much more processing power. Except for world generating, which would definitely require a little more, I think it's possible in terms of technical limitations. The only reason they worked so hard to make Hardmode fit the limitations was because of slightly older devices. iPhone 5 could probably handle 1.2, iPhone 6 definitely can. And as for Windows/Android, well they're constantly getting new better things, I'm sure there's Win/Droid phones that can handle it no problem!