While I'm still disappointed about this release I have slept on it now and had some thoughts about the T5i.
This is obviously the same camera as the T4i which is a serious problem for Canon and their retailers; even the "uneducated masses" I keep hearing about will ask a bestbuy or Canon salesman "what's the difference?" and thanks to all of us the word will get out around the internet that the 700D/T5i is for idiots and if there is one thing on the mind of someone buying something they don't completely understand it's "I don't want to look like an idiot".
So Canon will obviously have to do something about this, and since the 700D/T5i's update seems to be software only I suspect that Canon will stop making firmware updates for the 650D/T4i. So I wouldn't be surprised if Canon has given(or eventually gives) the 700D/T5i the "clean" 1080i60 uncompressed 4:2:2 HDMI out that is promised to the 5DIII in April (via a firmware update). I mean this is currently in all of Nikon's low-end cameras and they obviously feel the pressure to compete with this feature if they are willing to add it to a firmware update for the 5DIII.
This will probably be the big selling point difference between the two models, which isn't good news for photo guys but kinda helpful to video guys looking for a cheap B-Cam with decent video quality options. Either way, Canon is screwing us by charging for firmware updates now and it's the price of a new camera none the less!