The latest I have heard, and spoken about before, is that we’ll see the 70D move up the line. It’ll be specced close to the current 7D, however with a new higher megapixel APS-C sensor.
It seems to me that this could be the cause of the new 7D firmware. If the 70D comes out before a new 7D does, and it's spec'd higher than the 7D is without the new firmware, that would be embarrassing for Canon. So they upgraded the 7D firmware to keep the 70D below it in some ways (raw buffer, probably) so they can keep the 7D on the market longer.
IMO the 70D will be cheaper than the 7D (v2). Even if the 70D gets the 19-point AF of the 7D and a better 2X MP Sensor, there are still a few differences to differentiate those two cameras:
1. Speed: The 70D is rumored to have a frame rate of 6 fps, the 7D has 8 fps -> Advantage 7D
2. Buffer: The 70D will most likely keep the max buffer of ~16 RAW files (58 JPEGs), the 7D maximum RAW buffer is extended to 25 RAW files (130 JPEGs) -> Advantage 7D
3. Memory Cards: SD versus CF -> IMO Advantage 7D, however, some people prefer cheaper and slower SD-Cards.
4. Viewfinder: 70D will most likely keep the viewfinder of the 60D. Thus 96% versus 100% (7D) -> Advantage 7D
5. Body: 70D will most likely keep the polycarbonate resin with glass fibre body on aluminum chassis, the 7D has a magnesium alloy body -> Advantage? Depends on personal preference.
IMO the score is 0:4 in favor of the 7D...
The regular price of the 7D is $1.699 and its currently sold for $1.549. The regular price of the 60D is $1.399 and it's sold for $1.299. IMO the 70D will be most likely a bit more expensive than the 60D without costing as much as the 7D... maybe around $1.499?
Don't forget that the 650D/T4i moved up the line as well, got the AF and the fps of the 60D. However, the price increase was only (at least in Germany) 50,- Euro (about $63).