This sounds like great news to me.
Canon - pay attention.
7DII - 5DIII/1DX based AF system, WITH f/8 AF sensors at the center.
Flexible video crop (full-frame to 1:1 crop in all modes) for all these cameras.
5DIII firmware update to include flexible video cropping.
Give me that (and good sensor performance, obviously), and I might be in for BOTH a 7DII and a 5DIII.
Big time bonus - native DNG format, including the option to use the new lossy DNG raw format (huge, huge advantage over MRAW/SRAW). Include this in the above-mentioned 5DIII firmware update.
Yeah...I'd definitely crack open the checkbook for that.
It would be nice for them to use DNG, however I suspect not. I mean, after all, it drives people to use their DPP, at least for a little while after a new camera release.
Beyond that, allowing up to a 1:1 video crop is quite an interesting concept, although matters less to me since I mostly just do stills. However, if you could do a crop in camera (more to save space while still maintaining 1:1 pixels used/pixels recorded), that could be really interesting.