Jason,
It was time to stop worrying and adapt a while ago. It's too bad that Titleist is still trumpeting that the new Pro V1x will go further or that Phil is saying that he's getting an extra ten yards out of whatever. It's also too bad that many people still believe the marketing hype. In reality for the last couple of years the focus has been on MOI and accuracy and forgiveness, not distance.
Can the USGA prevent a future jump in distance? Hard to say. You'd think with the COR, length, head size, initial velocity, etc rules that it'd be pretty hard to get another jump, but never say never. If there is a breakthrough it'd have to be higher COR ball materials (although the velocity test should catch that) or more likely in materials or dimpling that reduces the drag on the ball, so more distance for the same initial ball velocity.