I'm curious to know, who thinks the 70D actually is a move upward in the Canon line-up as this rumor says? Personally I think it sits exactly where you would expect an upgrade to sit after three years. It does seem a little skewed though right now when compared to the even older 7D, but the 70D certainly does not move up to occupy the space the 7D - or even the 50D - used to occupy.
I think the 70D is a HUGE step up compared to the 60D. I mean, when the entry level Rebel T5i has pretty much the same burst rate as the 60D, you know things need updating. And if we're talking burst rates, the 70D is the first time since the 40D that the rate has gone above it (7fps vs 6.5fps). There's also the brand new 20.2MP sensor, Digic 5+ processor, Wi-Fi, articulating screen, 7D AF system, AFMA, 12800 native ISO, etc. The 70D is a much needed upgrade for the mid-tier crop cameras.
Now the 70D still has a couple things the 7D does better, such as burst rate and buffer, magnesium body, better weather sealing, 100% VF coverage, and maybe a couple other things, but for the most part the 70D beats the 7D.
What I think this means is the 7D MK2 will be something quite special, and as another poster pointed out, the APS-C version of the 1D X. The 70D you could argue as the APS-C version of the 5D MK3.
7D mk II with integrated grip!