*nods* It's in the same area as the lock switch on my 70-300mm f/4-5.6L.
I agree with earlier posters about mid-tones being flat and lacking contrast, and a lack of sharpness at f/2.8.
It's all about what you get used to. I thought the 24-70 was good until I got the 100mm L macro, the 70-200mm f/2.8 IS USM II, and the 8-15mm f/4L fisheye - especially the fisheye. Those lenses really punch out the color and contrast, and now the 24-70mm looks decidedly dull by comparison.
They need to improve the glass resolving ability, but huge improvements will come from improved coatings, and rounded aperture blades will help with creamier bokeh. New Canon lens designs from about 2005 have all come with the rounded aperture blades.
So it'll come with no IS, 82mm thread (at least matching the 16-35mm...makes sense), improved design, improved glass elements, improved coatings, improved electronics and improved (rounded) aperture blades. WIN!