The 5d2 price isn't dropping
Except for, you know, the fact that it did drop in Canon's store ($1759 refurb), and that through Canon Loyalty, you can get a 5DII for $1400ish+ tax. I've seen the used market drop off lately...on sites like Fred Miranda, it's rare to see even a like new body go for more than $1800. Multiple times the 5dII and 24-104 has gone for $2400ish on Ebay Daily Deals.
I'm also very interested to see what Canon does after the d800 public relations disaster
I don't get this mentality...that its a huge PR disaster. Getting crushed in specs in the Rebel level...sure. At the $3000 price mark, most of the buyers have enough sense to check more than a few specs. The only way it'd be a PR disaster for Canon is if the 5dIII was terrible...significantly worse than the 5DII while charging a premium and all the major pro shooters abandoned them for Nikon. THAT'S a disaster. But, since that hasn't happened (and won't), the only way its a slight disaster for Canon is if they get crushed in sales. And since we won't even be able to guess at that side for another 6+ months, let's hold off on that silly hype.
As for the entry level full-frame, I'd imagine its a ways off. Maybe Photokina, but probably more likely it's a next spring kind of thing. The 5DII still sells well, they've got manufacturing figured out for it...there's no rush. The 5DII is basically already the entry level full-frame offering, if $1500-1800 isn't cheap enough, then no camera will satisfy that market