I love my old 2011 Air, except for the low resolution display. It still works nicely, albeit fanning at high speeds to keep up.
Any rumors on the retun of a revised 11" model?
No, the only solid rumour for the Air line is a switch to the Magic Keyboard from the 16" MacBook Pro next year for the existing 13" model. No rumours of additional screen sizes being added to the line, or the 12" MacBook returning.