After reading similar list elsewhere and reading of a plan to issue new players Handbooks, Monster Manuals & DMGs every year, I'm of the idea that it's NOT a roleplaying game, it's a do-it-yourself collectible card game.
I've had player threaten to play a Wizard named Charmander

I can seriously see players putting their at will/scene/day "powers" on cards and flipping them as used.
I have my homebrew (A)D&D campaign of 20+ years, that I might yet convert.. but it won't be to D&D. In truth, I cut my gaming teeth on RQ2. I still think it's the best system out there. D&D4 sounds and feels more video/collectible-card than RPG to me. If I covert, it will require a LOT of conversion. 'Magic' , Sorcery & Psi might cover part of it, but at the levels of play attained, some use of 'Super' rules would be required.
:focus:
What might we learn fro D&D4? We will have to see once it's out who plays it and who decides to stay with earlier editions or jumps to a different system. My hope is that Chaosium would return to a more vigorous interest in RPG's. Aside from (very) periodic CoC supplements, they produce little RPG products. BRP, IMHO, is far superior to D20 OGL and if permitted to be used, could provide a vast ocean of products & resources. I'm looking forward to several possible settings suggested here and wish all the best of luck. Now, if only someone can get me my copy a bit quicker, so I feel less like a junkie strung out needing a fix...
later,
Grey