Feels like home
*looks at location* ... lol
Anyway, just read this:
http://forums.steampowered.com/forums/showthread.php?p=32427670
It's an interview with a guy from Hidden Path. I interpret it as basically: Hidden Path's involvement will diminish from now, and Valve will continue with the necessary tweaks/features.
I do believe Valve will support the game well. Although if they really want to win over the majority of the 1.6 and CSS players and make CSGO THE competitive game people want, they will have to implement a fair few of the changes mentioned in the Steam forums e.g. adding SourceTV, removing cheat protection on many cvars, tweaking movement/recoil etc.