Personally, with current data needs being what they are, in a world like ours where changes occur more quickly, I don't think it would be a bad idea to go to a 5 year census, or something along those lines.
I wish we did a 5 year census like Canada does. But even at 10 years, all the libertarians and conservatives whine about how "intrusive" the questions are. Back in 2000 there was press coverage of lots of people saying they weren't going to fill out the long form of the census, which led directly to the American Community Survey. So there wouldn't be much support for it.
(I may be wrong about this) but we'd need a constitutional amendment to do a 5-year census since Article One of the Constitution specifically states the Census should be conducted every ten years.