Good news: A very nice firmware upgrade. This should put to rest the rumors that Canon will abandon the 7D or merge with a 70D. The language and tone of the announcement are clearly meant to communicate the message that the 7D remains their flagship APS-C model. As someone has already pointed out, this is in sharp contrast to the minor firmware upgrade of the 60D. ("no microfocus adjustment for you.")
Bad news: Probably no 7DII for Photokina.
Will we see a repeat of the pattern we saw last year with the 5D? Deep discounts before Christmas to boost sales, followed by an announcement of the 7DII in the first quarter 2013.
Pure speculation on my part: I wonder if after seeing the recent sensor performance from Nikon/Sony they were taken aback a bit and decided to delay a new APS-C sensor until they could make some added improvements. "Let's upgrade the firmware and cut prices to buy ourselves six months of added R&D."
Wondering now what they do with the 70D. Does it get a new sensor? Do they give it the 7D's features but use the T4i sensor? Do they hold off on it as well? Do they care if a 70D cuts into sales of the three-year-old 7D for a few months? Perhaps they figure that the build quality of the 7D alone will be sufficient differentiation for a few months, especially if they lower the 7D price.
While I'm a little disappointed that Canon won't be taking my money for awhile longer (at least not for a 7DII, but then there are always lenses), I'm pleased that they are giving me a 7D 2.0 for free. While I'd rather have a II instead of the 2.0, I'm not going to complain and it does give me time to brace for the inevitable price hike.