I'm still of the group that Conq. Haki will have a fighting capability to it that will become important in big name fights coming up. We also have an unknown amount of forms within G4 to go through. His Busoshoku haki could probably still get stronger.
What would that actually entail to me it seems he's already reached his devil fruit potential now he's using haki to elevate his abilities, but I don't think that will allow him to reach yonko level.
I can think of one thing. Paramecia are said to produce their element/DF(Doffy produces strings, Foxy produces time slowing waves Fuji produces gravity etc.) but Luffy doesn't really produce anything and his body is always rubber whereas Doffy's body isn't strings and Fuji's body isn't gravity(which opens the paramecia/Logia door on the Gumo but that's neither here nor there) so what if his "awakened" form allowed him to produce rubber from his body as most paramecia do? To me this would be depicted as Luffy being able to produce and control rubber tendrils from anywhere on his body, sort of like Venom.
He seems to have reached the full potential, but awakening is the next level. For a Naruto comparison, if Naruto were to master KCM fully without delving into BM, doesn't that mean he's not using the Kyuubi's own full power and still has more to learn even though he alraedy mastered a part of its power?
This is possible I just think at this point Luffy has reached his full devil fruit potential if there was really more he could do I think he would of done it by now. And his devil fruit works by making his body into rubber Luffy has only shown basic body manipulation.
Someone could argue that Luffy already awakened his devil fruit, and maybe there's a level Luffy still hasn't reached allowing for further manipulation of his rubber ability, this is possible and I'm not ruling it out, I'm just confused what else is there for Luffy to do to reach this max awakened mode, you hear people talking saying Luffy gain to ability to manipulate his surroundings or other abilities. But based on his devil fruit description his devil fruit turns him to a rubber man to me it looks like he's awakened his potential as that and I think the only thing left is either awaken further haki potential or gain another devil fruit.
You lost the validity of the argument the moment you used a maybe scenario to back it up. Luffy has not awakened his devil fruit based on our current knowledge, so right now, that's what's canon, and based on what's canon right now, he's still to get the boost from awakening his devil fruit. So there you have it.
Has it verbatim been said that Luffy hasn't went through devil fruit awakening, devil fruit awakening is explained the ability to maximize devil fruit abilities which his gears does. Since we don't have characters in series to point at that they awakened their devil fruit it's hard to say if Luffy has or hasn't reached his potential which is why I said it's possible that Luffy might have more growth devil fruit wise, but I'm doubtful of this.
To maximise is to use something to their full potential. There's no real way of knowing what the Gomu Gomu no Mi's full potential is, so until we're given confirmation that what Luffy uses is truly its maximum potential, then he hasn't awakened.
