Hrm. They're seriously ditching the Great Wheel cosmology? One of the absolute number one things that makes me think, "Yeah, that's D&D?"
Didn't see that one coming.
Not that I've ever used the Great Wheel myself. I haven't run enough core D&D for it to have come up--and the setting I'm working on now doesn't use it, either. But I always enjoyed reading about it. It's in that same classic D&D category in which I place beholders and gelatinous cubes.
The new cosmology sounds intriguing, but I'm not sure it sounds like D&D. That's by no means a bad thing--I am of course a major fan of Arcana Evolved, Iron Heroes, and Tome of Magic. But I can't help wondering if the off-beat flavor isn't best left to supplements and third party source books. Why can't the baseline be our dependable, slightly goofy, orc-hacking standard D&D goodness?
Goodness that has a lot of history behind it, I might add. That's not a thing to be abandoned lightly.
Also: they appear to have changed the Wizard Implements article since I first laid eyes upon it. There was originally no mention of "Iron Sigil" or "Emerald Frost." Again--this sounds cool, but it doesn't quite sound like D&D. And it had better be, at the least, tweakable, and preferably easily expandable. I don't want to be stuck with someone else's named fluff leaving great muddy footprints all over my game.