Perhaps a better way to express this would be:
1) 7D (APS-C) 18-21 mp with image quality/noise/ISO sensitivity equal to current generation of 5D MII, $1,700 U.S.;
2) 7D (APS-C) 24 mp with image quality/noise/ISO sensitivity equal to current generation of 7D, $1,700 U.S.;
3) ?D (APS-H) 16 mp with 1 stop improvement in image quality/noise/ISO sensitivity over current generation of 5D MKII sensor, $2,500 U.S.
While I don't expect to ever see another APS-H sensor, at least these three choices seem somewhat plausible.
My vote would be for #1.
I think your #1 or #2 are a LOT more realistic with price and MP knowing Canon's MO... then again after seeing the 1dx, i would put my money on #1 but what do i know