my fear is a lot of people are waiting on the sidelines to hear something definitive from China...so the question becomes...what if that doesn't happen?

Being based in China, there is still huge risk around it. Markets have to price that risk in to a certain extent and as you said, with other coins starting to rip and NEO not moving, it looks like it is being priced in quite heavily.

What this says to me is that if China does in fact say something positive, especially NEO specific, then we will see a re-pricing and a much larger rally.

That's the risk:reward play here anyway.