1. I see that there is a NEW game coming out - Rebellion, should I wait for that or purchase trinity?
2. I see two expansions already - are they for Trinity or will they be included in the new game?
Each expansion includes all of the contents of the previous expansions/versions, so, yes, Rebellion will include all of the content from the Original release, and the Entrenchment and Diplomacy expansions. (Trinity isn't a game itself, it's just a fancy way of saying, "Sins of a Solar Empire Complete Collection--original plus both expansions.)
The standard price for Trinity on Impulse seems to be $20 now. Whether you should wait for Rebellion is up to you. Do you have a lot of free time in the next several months and would you enjoy playing Sins until Rebellion comes out? If so then maybe you should get Trinity now for $20. If you don't like it then you won't spend $30 more on Rebellion later. If you really do like the game then you'll have only spent an extra $10 to be able to play Sins Trinity now and it won't bother you that much when you go to drop $30 on the Rebellion download.
3. I see this is a hybrid RTS / 4x game. While I appreciate RTS games - I am not looking for a "click-fest" (ala Starcraft or Homeworld) - I am open to RTS in general.
In that case, Sins is probably right up your alley. That's what I like about it too. It's an RTS with 4x elements and it's not a clickfest, but still offers deep strategic and tactical elements. It really shines in online multiplayer against human opponents. (But note that the online player counts are low and that most of the people in the 5v5 and 4v4 PvP games are seasoned pros, and that last fact makes it hard for newer players to get into the online multiplayer game, but there are people who still overcome that adversity.)
4. How would you compare this to other 4x games (Armada 2526, Distant Worlds, etc.)?
Comparing it to Civilization and Alpha Centauri, Sins is a very unique game. One of the things I really like about it is that boring micromanagement has been almost completely eliminated. You don't need to figure out which square of land to farm or mine in order to have the most efficiency, and you don't have to order your settlers/engineers to build roads and railroad tracks on every square. It's definitely not nearly as tedious as those two famous 4x games.
6. I see it is multiplayer - can it be played single player?
Yes. 99.5% of all Sins players seem to play it in single player. That's kind of sad because the AI isn't a very good opponent and by playing it in single player you miss out on much of the strategic and tactical depth of the game. The only significant advantages of playing it in single player is that you don't have to wait for games to fill, you don't have to deal with dropped connections or lag from other players, and you can play custom maps and mods. However, single player comes at the expensive of the most important element of the game--the strategic challenge and suspense of playing against humans.