This question raises themes of enormous scope, so everything I say (as well as, in my opinion, everything everyone else says) is subject to a great deal of context and qualification. Quite reasonably Kin doubts that we'd get stupider and mentions the correlation of intelligence with average group size, and the fact that our societies grow larger and more complex societies. However the actual situation seems to me a great deal more complex than that suggests. The ideas of HG Wells concerning the Eloi and Morlocks or the castes of Selenites might regain relevance in a different context if our increasingly specialist technologies continue to reduce the demands on the minds of users, while increasing the demands on the brains and skills of the developers. I do not expect to be in a position to criticise our progress when some of these dilemmas drive us to terminal decisions, but I seem to see some nasty brick walls across certain of our future paths. I have already in the past remarked on our inferiority in certain respects to the caste system and community commitment of eusocial creatures such as termites. When it happens (if as a community we last long enough to see it happen) that our survival depends on truly large-scale projects, then we shall depend terminally on our ability to overcome aspects of our nature that so far we have shown no interest, let alone capability in dealing with.
Kin also spoke of the ultimate abomination and unthinkable: “...artificially accelerated evolution, designer babies and the like..." Such things lead to the question of, not so much whether we fuse with our own inventions, but whether we are merely a stepping stone in the development of a future teleological evolution of mechanisms. A large future, and a larger subject.
The question of punctuated equilibrium is a totally different matter, simply one aspect (certainly an important aspect but just an aspect) of naïve views of traditional Darwinism. The so-called punctuation event is not particularly abrupt, and the most interesting aspect is not the event but the apparently stable intervals between. These reflect selection for compatibility with the status quo, and anyone who has tried to battle with the status quo under stable conditions will understand the power of the status. In either case, the upshot could be either increased or decreased intelligence in or between such events.